Amer Sports Inc., the acclaimed producer behind Wilson tennis rackets and Salomon ski boots, has formally submitted its filing for a high-stakes US initial public offering (IPO). The company has secured top-tier financial institutions—Goldman Sachs Group Inc., Bank of America Corp., JPMorgan Chase & Co., and Morgan Stanley—as key managers for the imminent share sale.
Insiders suggest Amer Sports is eyeing an IPO surpassing $1 billion, potentially catapulting its valuation to an impressive $10 billion. Originating in Finland, Amer Sports, backed by China’s premier athletic-apparel producer Anta Sports Products Ltd., boasts a diversified portfolio, encompassing Louisville Slugger baseball bats, Arc’teryx outdoor gear, and Atomic winter equipment.
With a global workforce exceeding 10,800 employees and a presence in Helsinki, Munich, Krakow, and Shanghai, Amer Sports reported robust 2022 revenue, totaling $3.5 billion. The company intends to list shares on the New York Stock Exchange, using the symbol AS.
In 2019, a consortium led by Anta, joined by Tencent Holdings Ltd. and Lululemon Athletica Inc.’s founder Chip Wilson, acquired Amer Sports for approximately $5.2 billion. This strategic move aimed to introduce high-end athletic equipment to China’s burgeoning middle class, fueled by growing affluence.
