Amer Sports, the Finnish company known for producing Wilson tennis rackets and Salomon ski boots, has reportedly filed for a confidential initial public offering (IPO) in the United States.
Sources familiar with the matter suggest that the IPO could value the company at up to $10 billion, Bloomberg reported.
Amer Sports, backed by China's leading athletic-apparel producer, Anta Sports Products Ltd., boasts a diverse portfolio that includes brands such as Louisville Slugger baseball bats, Arc’teryx outdoor gear, and Atomic winter equipment.
While the company initially targets an IPO of over $1 billion, it may seek as much as $3 billion depending on market conditions.
Amer Sports witnessed a substantial revenue increase of 22% in the last year, reaching 24 billion yuan ($3.3 billion).
The company aims to complete its listing by early next year, according to Bloomberg.
Amer Sports was founded in 1950 and has its headquarters in Helsinki, Finland. In 2019, a consortium led by Anta, in collaboration with investors like Tencent Holdings (HKG:0700, OTC:TCEHY) and Lululemon founder Chip Wilson, acquired Amer Sports in 2019 for approximately $5.2 billion. In 2020, Anta sold Amer's fitness-equipment subsidiary, Precor, to Peloton Interactive for $420 million.