Amer Sport has filed for an initial public offering (IPO) in the US as it prepares to return to the market after being taken private in 2019.
The pending listing marks an upturn in companies turning to the equity market as sentiment improves. High-profile IPOs in 2023 included Arm Holdings and Instacart, while Mediterranean restaurant chain Cava, beauty technology company Oddity, German sandal maker Birkenstock and Vietnamese electric vehicle maker VinFast Auto also debuted.
Helsinki, Finland-based Amer Sport, which makes the iconic Wilson tennis racket, didn’t disclose an estimated price range for its stock in a regulatory filing. It named Goldman Sachs, BofA Securities, JP Morgan and Morgan Stanley as joint book-running managers for the proposed offering.
The company aims to raise up to $100 million in its IPO but according to Renaissance Capital this is likely a placeholder for a deal it estimates could raise up to $2.5 billion.
It reported revenue of $3.5 billion for its 2022 financial year and a net loss of $252.7 million.