Amer Sports' IPO Underwhelms, Raising $1.6 Billion Amid Market Concerns

Despite falling short of expectations, the company aims for significant revenue growth, facing challenges from its reliance on China and financial health.

• Amer Sports, owner of brands like Salomon and Arc’teryx, raised $1.6 billion in its NYSE IPO, falling short of the expected $8 billion valuation.
• Investors expressed concerns over Amer Sports' reliance on China for revenue, its lack of profits, and its substantial debt of $2.1 billion.
• Despite the IPO's underperformance, Amer Sports aims to raise its total annual revenue to surpass $5 billion.
• Jim Cramer advised investors to steer clear of Amer Sports, citing its less than ideal balance sheet and overreliance on the Chinese market.
• Amer Sports' IPO marks the largest listing in fashion since Birkenstock’s IPO last year, reflecting the challenging conditions of the IPO market.

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