BUZZ-Amer Sports falls on stock offering launch

Reuters
03 Dec 2024
BUZZ-Amer Sports falls on stock offering launch

** Shares of Amers Sports AS.N fall 4.3% to $25 after hours as co looks to raise equity

** Finland-based maker of Wilson tennis rackets launches 34 mln share offering

** Co plans to use net proceeds to repay portion of its term loan facilities

** BofA and JP Morgan leading the offering, joined by Goldman, Morgan Stanley, Citi and UBS

** AS shares finished regular session on Mon down 0.8% at $26.13, double the co's Jan IPO price of $13. Stock has surged 47% over the past month

** With ~505.6 mln shares outstanding, co has ~$13.2 bln market cap

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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