By Jiahui Huang


Amer Sports, owner of brands including Arc'teryx, Wilson, and Solomon, raised about $1.37 billion in a U.S. initial public offering after pricing shares below its marketed range.

The Wilson tennis-racket maker said it sold 105 million shares at $13 each. Amer Sports has also granted an overallotment option for up to 15.75 million additional shares.

The company had expected to offer 100 million shares at $16 to $18 each.

Founded in Finland in 1950, Amer Sports was acquired in 2019 by a Chinese consortium led by Anta Sports Products for about $5 billion. The company has more than 10,800 employees globally, with its products selling in more than 100 countries.

The company had a net loss of about $115.6 million on revenue of $3.05 billion for the nine months ended September, according to its filing with the U.S. Securities and Exchange Commission.

Amer Sports is expected to start trading on the New York Stock Exchange on Thursday.

The company said it plans to use the IPO proceeds to repay existing shareholder loans.

Goldman Sachs, BofA Securities, JPMorgan and Morgan Stanley are acting as joint sponsors for the IPO.


Write to Jiahui Huang at jiahui.huang@wsj.com


(END) Dow Jones Newswires

02-01-24 0225ET