Federer-Backed Shoemaker Said to Eye IPO at $5 Billion Valuation
This article is for subscribers only.
On AG, the Swiss sports-shoe maker backed by tennis great Roger Federer, has started preparations for an initial public offering that could value the business at about $5 billion, people with knowledge of the matter said.
The Zurich-based company plans to list as soon as the autumn, according to the people, who asked not to be identified because the information is private. On is working with banks including Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co., the people said.