• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Federer-backed shoemaker ON prices IPO above range, valued at over $6 billion

September 15, 2021 by David Barret Leave a Comment

September 15, 2021

(Reuters) – On Holding AG, a shoe firm backed by Swiss tennis legend Roger Federer, on Tuesday priced its initial public offering (IPO) well above the target range, valuing the company at over $6 billion.

On priced 31.1 million shares offered at $24 each, compared with a target range of $18 to $20 per share, raising $746.4 million, it said in a statement.

The shoemaker was founded in 2010 by running enthusiasts Olivier Bernhard, David Allemann and Caspar Coppetti, with Federer investing an undisclosed sum in the company in 2019.

The 20-time Grand Slam winner teamed up with the company earlier this year to develop the Roger Pro tennis shoe.

The IPO comes at a time when athletic gear, especially shoes, has been flying off the shelves at most retailers as COVID-induced gym closures push more people to take up running to keep themselves fit.

The company’s largest market is North America, which accounts for nearly 49% of total sales, followed closely by Europe.

On is due to begin trading on the New York Stock Exchange on Wednesday.

Goldman Sachs & Co, Morgan Stanley and J.P. Morgan are among the underwriters for the offering.

(Reporting by Sabahatjahan Contractor and Noor Zainab Hussain in Bengaluru; editing by Richard Pullin)

Source Link Federer-backed shoemaker ON prices IPO above range, valued at over $6 billion

David Barret
David Barret

Related posts:

  1. Fire in Indonesia prison kills 41 in block crowded to more than 3 times capacity
  2. Applied Materials aims to improve chip production for electric vehicles
  3. Japan PM Suga arranging U.S. visit for meeting with Biden – TV Asahi
  4. U.S. markets regulator takes aim at Coinbase lending product

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • What Is The Largest Deer On Earth?
  • World’s First CRISPR-Edited Spider Produces Glowing Red Silk From Its Spinneret
  • First Ever Image Of “Free Floating” Atoms, The Nocebo Effect Beats The Placebo Effect When It Comes To Pain, And Much More This Week
  • 165-Million-Year-Old Fossil Is New Species Of Ancient Parasite. Did It Come From A Dinosaur’s Butt?
  • It’s True: Time Really Does Move Slower When You’re Exercising
  • Salmon Make Some Of The Most Epic Migrations In Nature. Why Do They Bother?
  • The Catholic Apostolic Church In Albury Has Been Sealed “Until The Second Coming”
  • The Voynich Manuscript Appears To Follow Zipf’s Law. Could It Be A Real Language?
  • When Will All Life On Earth Die Out? Here’s What The Data Says
  • One Of The World’s Rarest And Most Endangered Mammals Is *Checks Notes* A Unicorn
  • Neanderthals Used World’s Oldest Wooden Spears To Hunt Horses 200,000 Years Ago
  • Striking Results Show Neanderthal Crafters Were Sharper Than We Thought
  • Pioneering Research Reveals How Darkness And Light Made The Parthenon Appear Divine
  • Peculiar Material Revealed To Have Hidden Quantum State That Can’t Be Flipped In A Mirror
  • Extremely Rare Belalanda Chameleon Found Living 5 Kilometers Outside Its Very Small Range
  • Frogs Are So Vulnerable, How Did They Survive When T. Rex Didn’t?
  • Florida Man Gets Too Close To Bison In Yellowstone, Promptly Finds Out Why This Is A Bad Idea
  • Is A Bone A Worthy Weapon When Fighting The Rancor? What About A T. Rex?
  • Musical Cyborgs: Scientists Influence Cicadas’ Buzz So They Perform Pachelbel’s Canon In D
  • World’s 25 Most Endangered Primates Revealed – And Humans Are To Blame
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version