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    ADS   DE000A1EWWW0

ADIDAS AG

(ADS)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 08/05 03:58:00 pm
317.875 EUR   -5.46%
04:26pADIDAS : Goldman Sachs reiterates its Buy rating
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02:35pADIDAS : JP Morgan reiterates its Neutral rating
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02:15pADIDAS : Jefferies gives a Buy rating
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Adidas-Backed Spinnova Prices IPO with Initial Market Capitalization of EUR390 Million

06/23/2021 | 09:48am EDT

By Ian Walker

Finnish sustainable textile material company Spinnova Oyj has priced its initial public offering, implying a market capitalization of 390 million euros ($465.8 million) when it starts trading on the Nasdaq Helsinki First North Growth Market.

Spinnova has set its pricing at EUR7.61 a share. The company has raised EUR100 million of new money as part of its IPO, which could increase to EUR115 million if an over-allotment option is exercised by Carnegie Investment Bank AB, which is acting as stabilizing manager.

Trading in the company's shares is expected to start on June 24.

Spinnova Oyj said earlier this month that Adidas AG had agreed to invest EUR3 million in the company's initial public offering. It said at the time that Spinnova has a continuing collaboration with Adidas and the investment secures access to significant volumes of Spinnova materials in the future.

Spinnova has developed technology to make textile fiber out of wood or waste, such as leather, textile or food waste, without harmful chemicals.

It said its patented Spinnova fiber creates zero waste and side streams or microplastics, and involves minimal CO2 emissions and water use.

The company's cornerstone investors include certain funds managed by entities owned by Aktia Bank PLC, certain funds managed by WIP Asset Management Ltd, certain funds managed by DnB Fund Management, Ilmarinen Mutual Pension Insurance Company, certain funds managed by Pareto Asset Management, certain funds managed by Sp-Fund Management Company Ltd and adidas Ventures BV.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

06-23-21 0947ET

Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG -6.02% 316 Delayed Quote.6.08%
DJ INDUSTRIAL 0.78% 35064.25 Delayed Quote.14.74%
NASDAQ COMP. 0.78% 14895.117079 Real-time Quote.14.53%
All news about ADIDAS AG
04:26pADIDAS : Goldman Sachs reiterates its Buy rating
MD
02:35pADIDAS : JP Morgan reiterates its Neutral rating
MD
02:15pADIDAS : Jefferies gives a Buy rating
MD
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04:59aADIDAS : Warburg Research reiterates its Neutral rating
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04:56aADIDAS : RBC gives a Neutral rating
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More news
Financials
Sales 2021 21 810 M 25 792 M 25 792 M
Net income 2021 1 506 M 1 780 M 1 780 M
Net cash 2021 136 M 161 M 161 M
P/E ratio 2021 41,1x
Yield 2021 1,01%
Capitalization 61 497 M 72 820 M 72 724 M
EV / Sales 2021 2,81x
EV / Sales 2022 2,56x
Nbr of Employees 54 722
Free-Float 86,9%
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Technical analysis trends ADIDAS AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 35
Last Close Price 316,00 €
Average target price 329,78 €
Spread / Average Target 4,36%
EPS Revisions
Managers and Directors
Kasper Bo R°rsted Chief Executive Officer
Harm Ohlmeyer Chief Financial Officer & Labor Director
Thomas Hermann Rabe Chairman-Supervisory Board
Martin Shankland Head-Global Operations
Roland Nosko Member-Supervisory Board
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