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Amer Sports raises $1.37B in U.S. IPO

Amer Sports raised about $1.37B in a U.S. initial public offering "priced below a marketed range," selling 105 million shares at $13 each. Three members of the consortium that acquired the company in 2019 agreed to "buy 21 million additional shares at the IPO price, on top of their previous commitment." Amer had marketed 100 million shares for $16 to $18, targeting as much as $435M "more than it raised." At $13 a share, the company has a market value of about $6.3B, based on its filings with the U.S. Securities and Exchange Commission (BLOOMBERG NEWS, 1/31).

FORTUNE's CEO Daily newsletter looked at the Amer Sports IPO under the header, "The First Big IPO of 2024 Underdelivers" (2/1).

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