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Amer, backed by Anta Sports, makes winning debut in New York after US$1.4 billion stock offering
- Finland-based Amer, which owns the Wilson, Salomon and Arc’teryx brands, sold 105 million ordinary shares at US$13 each
- Shares rose by 0.8 per cent to 6.2 per cent during the first day of trading, and closed at US$13.40 for a 3.1 per cent gain
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Amer Sports, backed by China’s biggest sportswear maker Anta Sports Products, made a winning start as a listed company after its shares rose by 3.1 per cent in New York on Thursday.
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Shares of the Finland-based company closed at US$13.40, giving the owner of Wilson, Salomn and Arc’teryx brands a market value of US$6.6 billion. The stock traded 0.2 per cent to 6.2 per cent higher during the trading hours.
Amer raised about US$1.4 billion from the sale of 105 million shares at US$13 each, below the US$16 to US$18 price range it marketed to investors, according to its exchange filing Wednesday. The proceeds would be used to fund its expansion plans in China and repay existing loans.
Anta Sports, which is based in Xiamen in southeastern Fujian province, has a 52.7 per cent stake in the company. The New York listing represents the largest stock offering by a China-owned company in the US since the US$4.4 billion listing of ride-hailing group DiDi in 2021.
Anta declined to comment on the listing.
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