The upcoming IPO of the sporting goods group Amer Sports will be less lucrative than expected.
On Wednesday, the company set the offer price for the available shares at $13.00 (12.04 euros) each. Last week, the parent company of brands such as Arc’teryx, Salomon, Wilson and Peak Performance was targeting a price range of $16.00 to $18.00.
This means that the income from the initial IPO is expected to amount to almost 1.37 billion US dollars (1.26 billion euros). If the shares had been placed at the originally planned price, the group could have raised up to $1.8 billion.
According to the current announcement, the company is now offering 105 million shares of its Cayman Islands-based parent company Amer Sports Inc. as part of the IPO. The offer period therefore ends on February 5th. In addition, the investors involved will receive a 30-day option to purchase a total of 15.75 million additional shares. The company said the shares would be traded on the New York Stock Exchange starting Thursday.