Amer Sports (NYSE:AS) stock is in the news Thursday as the market prepares for the sports equipment company to return to the public later today when AS starts trading.
Let’s get into everything potential investors in AS stock need to know about the Wilson tennis racket maker’s initial public offering (IPO) below!
AS Stock IPO Details
- The company’s shares will trade on the New York Stock Exchange under the AS ticker.
- Amer Sports has revealed that it will list 105 million shares of AS stock for $13 per share.
- Investors will note that this is down from the previous Amer Sports IPO range of $16 to $18 per share.
- Even so, the company is set to raise roughly $1.37 billion from the offering.
- The lowered Amer Sports IPO price comes as investors are worried about the company relying on China for revenue.
- Underwriters also have the option of acquiring another 15,750,000 shares of the stock at the IPO price.
- They have 30 days after the close of the offering, which is on Monday, to exercise that option.
- Goldman Sachs & Co. LLC, BofA Securities, JPMorgan Chase and Morgan Stanley are acting as joint book-running managers for the offering.
- Several other firms are also serving as bookrunners and comanagers of the Amer Sports IPO.
- Investors will want to keep an eye on Amer Sports to see if it can maintain its IPO price when it starts trading today.
There are more stock market stories for investors to read about below!
We have all of the hottest market news that traders need to know about on Thursday! Among that is what’s going on with shares of Nio (NYSE:NIO), ChargePoint (NYSE:CHPT) and Qualcomm (NASDAQ:QCOM) stock today. You can catch up on all of that news at the following links!
More Thursday Stock Market News
- NIO Stock Pops as January Deliveries Surge 18%
- CHPT Stock Alert: TD Cowen Just Raised Its ChargePoint Price Target
- Citi Is Souring on Qualcomm (QCOM) Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
