Amer Sports to Go Public with $8.3 Billion Valuation

Lululemon billionaire Chip Wilson to increase his stake, as company plans to convert debt into equity.

Lululemon billionaire Chip Wilson plans to buy $220 million in stock of Amer Sports at its IPO, increasing his already significant stake in the company.
Amer Sports is expected to be valued at $8.26 billion with the stock offering, which is lower than the previously cited target of $10 billion.
Wilson and partners initially planned to use IPO proceeds to pay back up to $4 billion in loans they took out to take Amer private. Now, the plan is to pay themselves back the $1.7 billion they expect to raise in the IPO this week and convert the rest of the debt into equity in Amer.
Amer Sports owns 11 sports and gear brands, with Arc’teryx, Salomon and Wilson balls and sportswear their largest by sales, respectively.
Amer Sports expects 2023 revenue to have come in at least at $4.35 billion, up from $3.55 billion a year ago, with sales rising year-over-year in every region and category.