Amer Sports, the sporting equipment maker known for brands such as Arc'teryx and Wilson, has faced challenges as it returns to public markets with its U.S. initial public offering (IPO). The company's growing reliance on China for its revenue has raised concerns among potential investors, impacting the IPO's reception. Despite this, Amer Sports has set the IPO price at $13 per share, which is below the initially marketed range of $16 to $18. The IPO has raised $1.3 billion, falling short of the expected $1.8 billion. On its first trading day, shares of Amer Sports, trading under the ticker $AS, opened at $13.40 per share on the NYSE, a modest increase of 3.1%, resulting in a market valuation of $6.5 billion. The company's listing on the New York Stock Exchange includes 11 iconic brands, with a reported $4.25 billion in trailing twelve months (TTM) revenue and a year-over-year revenue growth of 15.73%.
Wilson tennis racket maker Amer Sports opens at $13.40 per share in market debut after pricing IPO at $13 https://t.co/DEINjQaGYe
⚠️ AMER SPORTS VALUED AT $6.5 BILLION AFTER SHARES RISE 3% IN MARKET DEBUT (Reuters) Shares of Amer Sports rose 3.1% on Thursday in their market debut, giving the maker of the world-renowned Wilson tennis rackets a valuation of $6.5 billion..... For more on this story, check… https://t.co/yNe6ADppI1
Wilson tennis and Arc’teryx owner Amer Sports opens at $13.40 per share in market debut after pricing IPO at $13 https://t.co/eQxPchhepD
Wilson tennis racket maker Amer Sports to start trading after discounting IPO @CNBC https://t.co/TiG8okRdEw
Amer Sports eyes lukewarm market debut after discounted US IPO https://t.co/qKwFSli9fu https://t.co/ax38PclAnl
Wilson tennis racket maker Amer Sports to start trading on NYSE after discounting IPO https://t.co/nM87RFh4tk
Amer Sports IPO prices at discount to estimated range for NYSE debut https://t.co/VuQs5aYlHz
IPO Today Amer Sports, Inc. $AS, sports brands including Salomon and Wilson with $4.25B in TTM revenue and 15.73% revenue growth YoY. https://t.co/oLL1hjtdvn
The NYSE welcomes Amer Sports in celebration of its listing! $AS https://t.co/flhZKy9CnY
LIVE on NYSE TV 🎙️ Amer Sports, the company that brings you 11 iconic brands including @Arcteryx, @SalomonSports, @WilsonTennis, and Peak Performance, lists today on NYSE: $AS https://t.co/r4hIRNZtqw
Amer Sports, owner of Arc'teryx outdoor apparel, Wilson tennis gear, and Salomon sporting goods brands, will have its initial public offering today. https://t.co/Q2X7d5Omiz
Amer Sports is a global group of the world’s most recognized and respected sports and outdoor brands. The company that brings you 11 iconic brands including Arc’teryx, Salomon, Wilson, and Peak Performance, lists today on NYSE. $AS https://t.co/CvUs6uXpuk
Sports equipment and apparel maker Amer Sports prices US IPO at $13, below the range $AS $IPO #IPO https://t.co/UomEUYCAlQ
⚠️ AMER SPORTS SET TO RETURN TO PUBLIC MARKETS AFTER DISCOUNTED US IPO (Reuters) Amer Sports, the maker of the world-renowned Wilson tennis rackets, is set to return to public markets later on Thursday after selling shares at a discounted price in its U.S. initial public… https://t.co/o28DX8VSPM
Amer Sports prices IPO below range at $13 per share-source https://t.co/82xREWZkBG https://t.co/8NskrkoU93
Amer Sports discounts IPO as investors fret about its reliance on China ... from @DEER_ECHO_ and me today. https://t.co/Eh7tdMbdmo
- @HedgeyeRetail was bearish early Arc’teryx apparel maker Amer Sports considers IPO price below range "at $13 a share when it prices late on Wednesday, below its published target range of $16 to $18 a share" https://t.co/4O62FPwT8h
Wilson tennis racket maker Amer Sports raised $1.3 billion in a US IPO priced below a marketed range, in the second major IPO in a week to miss its target. https://t.co/TYIzAx8Pe9
🇫🇮 🇫🇮 🇫🇮 Amer Sports, the owner of sports brands including Arc'teryx and Wilson, is telling prospective investors that it is considering pricing shares in its IPO at $13 each, below a marketed range. https://t.co/iFWLfqtZGo via @markets
Arc’teryx apparel maker Amer Sports considers IPO price below range https://t.co/zAClVBMwBm
A Statement from Ownership. For full details visit https://t.co/LiJL8FoOTH #SteelStrong https://t.co/tfAId9LQPu
This was written in the Cosmos. And in our Black Book last week when we said $AS Amer Sports was worth closer to $7 than $17. Pricing at $13 gets the deal done, but stock still a short at that price. https://t.co/vH9GYAEIgg
Amer Sports, the owner of sports brands including Arc'teryx and Wilson, is telling prospective investors that it is considering pricing shares in its IPO at $13 each, below a marketed range. https://t.co/tYcN8S1aEO
⚠️ AMER SPORTS' CHINA RELIANCE WEIGHS ON 2024'S FIRST BIG IPO -SOURCES (Reuters) Amer Sports' growing reliance on China for its revenue is weighing on the appetite of those considering buying into the sporting equipment maker's $1.8 billion U.S. initial public offering (IPO),… https://t.co/f8XGzrwl9Z