Amer Sports edges down after top investor slashes stake in $1.3 bln secondary offering

Amer Sports

29/05/2025 12:11

Fixes typo in company's name in 1st bullet

** Shares of Amer Sports AS.N down 0.6% at $37.50 premarket after secondary offering priced

** Finland-based sportswear firm late Weds announced sale of 35 mln shares by Asian investment firm FountainVest Partners at $37.20

** Offering price represents 1.4% discount to stock's last close

    ** FountainVest is third largest holder with ~69.1 mln shares, or ~14% stake, based on ~489.5 mln outstanding AS shares, per latest LSEG data

** Goldman and BofA lead bookrunners for offering

** On May 20, AS shares finished up 19% after co's Q1 beat-and-raise report

** Through Weds, AS shares up 35% YTD. Stock touched record intraday high of $38.51 on Tues

** Recommendation breakdown among 16 analysts covering AS is 13 "strong buy" or "buy" and 3 "hold" ratings; median PT of $42 up from $33.50 a month ago, per latest LSEG data

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

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