Wilson Racket Maker Amer Sports Rises Up to 6% After $1.37 Billion IPO
- CEO hopes to double share price after ‘disappointing’ IPO
- Apparel maker’s IPO priced at $13 per share, below range
Amer Sports Inc. signage during their IPO on the floor of the New York Stock Exchange on Feb. 1.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Amer Sports Inc. stock closed 3.1% above its US initial public offering price after its first-time share sale priced below a marketed range.
Shares in the maker of Wilson tennis rackets and Salomon ski boots climbed as much as 6.2% in its first trading session on Thursday in New York, ending at $13.40 each, above the IPO price of $13. The company raised $1.37 billion on Wednesday, with about 60% of the IPO sold to three members of the consortium that acquired the company in 2019, Bloomberg News has reported.