"Amer Sports' Below-Range IPO Raises Concerns Over China Reliance"
TL;DR
Amer Sports' IPO fell short of expectations, with the company selling 105 million shares at $13.00 per share, far below the expected range of $16.00 to $18.00. The IPO raised $1.365 billion, well below the potential $1.6 billion to $2.0 billion. Analysts cite concerns over the company's close ties to China, particularly through its connection with Anta Sports, which acquired a 50 percent stake in Amer Sports in 2019. Arc’teryx, a brand under Amer Sports, has seen significant growth in China, raising worries about the company's reliance on the Chinese market.
- EXEC: Amer Sports IPO Comes Up Short; Some Cite China Concerns SGB Media
- Wilson tennis racket maker Amer Sports to start trading on NYSE after discounting IPO CNBC
- Amer Sports discounts IPO as investors fret about its reliance on China Reuters.com
- Arc'teryx apparel maker Amer Sports raises less than hoped in IPO Financial Times
- Arc'teryx Maker Amer Sports Gets $1.3 Billion in Below-Range IPO Bloomberg
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