The sporting goods provider Amer Sports has taken the first step towards the stock market.
The group, which includes renowned brands such as Arc’teryx, Salomon, Wilson and Peak Performance, filed a registration document with the US Securities and Exchange Commission (SEC) on Thursday.
Accordingly, the parent company of Amer Sports Corporation, registered in the Cayman Islands, will be listed on the New York Stock Exchange as Amer Sports Inc. in the future. However, financial details of the planned IPO, which according to media reports have been in preparation for months, remained open.
The sporting goods group is in the red despite strong sales growth
Amer Sports Corporation was founded in 1950 in the Finnish capital Helsinki. In 2019, the group of companies was taken over by a consortium led by the Chinese sporting goods provider Anta Sports Products Limited. The IT service provider Tencent Holdings Limited and the financial investors FountainVest Partners and Anamered Investments Inc. are also involved in this.
According to its own information, the group generated sales of around 3.05 billion US dollars (2.80 billion euros) in the first nine months of the 2023 financial year, which corresponded to an increase of 29.9 percent compared to the corresponding period of the previous year. Operating profit more than doubled to $242.6 million. The bottom line, however, was a net loss of 113.9 million US dollars (104.4 million euros). The group of companies had also closed the last few financial years with losses in the three-digit millions.