Amer Sports falls on stock offering launch

Amer Sports

02/12/2024 22:10

** 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))