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Amer Sports

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finance1 year ago

"Amer Sports IPO: A Rollercoaster Ride for Investors"

CNBC's Jim Cramer advises investors to steer clear of Amer Sports, a recent IPO that debuted at a discount due to its poor balance sheet and high debt of $2.1 billion. Cramer expressed concerns about the company's heavy reliance on China for growth, cautioning that such momentum may not be sustainable. He criticized the underwriters for pushing out-of-favor IPOs like Amer Sports and warned against investing in companies with significant exposure to the struggling Chinese economy.

via CNBC|
#amer-sports#debt#finance
business1 year ago

"Amer Sports' Below-Range IPO Raises Concerns Over China Reliance"

Amer Sports' IPO fell short of expectations, with the company selling 105 million shares at $13.00 per share, far below the expected range of $16.00 to $18.00. The IPO raised $1.365 billion, well below the potential $1.6 billion to $2.0 billion. Analysts cite concerns over the company's close ties to China, particularly through its connection with Anta Sports, which acquired a 50 percent stake in Amer Sports in 2019. Arc’teryx, a brand under Amer Sports, has seen significant growth in China, raising worries about the company's reliance on the Chinese market.

via SGB Media|
#amer-sports#arcteryx#business
business1 year ago

"Amer Sports' New York Stock Exchange Debut Raises $1.37 Billion"

Finnish athletic company Amer Sports, known for Wilson tennis rackets and Arc'teryx, debuted on the stock market with a 5% increase after pricing its IPO at $13 per share, raising $1.37 billion. The company's decision to discount its IPO came amid market uncertainty, and it aims to use the proceeds to improve its balance sheet and fund growth initiatives. Concerns about its ties to China and reliance on the region were also raised, but CEO James Zheng emphasized the importance of building a strong footprint in China while highlighting that North America and Europe remain its largest markets.

via CNBC|
#amer-sports#arcteryx#business