Amer Sports Plans IPO on New York Stock Exchange

Helsinki-based Amer Sports Inc, a global group of iconic sports and outdoor brands, has filed a Registration Statement with the US Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its ordinary shares.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. Amer Sports has applied to list its ordinary shares on the New York Stock Exchange under the symbol “AS.”

While the full financial details were not disclosed, a report on Bloomberg, however, quoted unnamed sources as saying the company was targeting an IPO that was more than a $1 billion and the listing could value the firm as high as $10 billion.

Amer Sports said that the Registration Statement relating to the proposed IPO has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statement becomes effective.

Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the proposed offering.

Citigroup, UBS Investment Bank, Baird, BNP Paribas, CICC, CLSA, Evercore ISI, TD Cowen, Wells Fargo Securities, Deutsche Bank Securities and HSBC will act as bookrunners for the proposed offering. Blaylock Van LLC, Drexel Hamilton, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank and Tigress Financial Partners will act as co-managers for the proposed offering.

Brands                   

Amer Sports’ sports and outdoor brands include Arc’teryx, Salomon, Wilson, Peak Performance, and Atomic. Its brands are creators of exceptional apparel, footwear, equipment, protective gear, and accessories that we believe give our consumers the confidence and comfort to excel.

With over 10,800 employees globally, Amer Sports’ purpose is to elevate the world through sport and to inspire people to lead better, healthier lives. Its vision is to be the global leader in premium sports and outdoor brands. With corporate offices in Helsinki, Munich, Kraków, and Shanghai, the company operates in 41 countries and its products are sold in 100+ countries.

Amer Sports reported a revenue of $3.05 billion in the nine months ending September 30 in 2023, which is substantially higher than the $2.35 billion it made a year earlier, and it continued a growth path that started with the 2019 takeover. The company reported a compound annual growth rate (CAGR) of 20.4% from 2020 to 2022—and said gross margins have expanded from 47% to 49.7% over the same time period.

More IPOs

By announcing its IPO plans, Amer Sports joins several other companies such as Panera Bread, Reddit, and Shein which are considering to move forward with their respective IPOs this year. Shein and Panera Bread have registered their F1s with the SEC and could be trading within the next few months. Reddit is also widely expected to launch its IPO this year.

As of mid-December last year, there had been 149 IPOs in U.S. markets. That was about 15% less than for the same time in 2022.