Wilson
Amer Sports, the producer of Wilson tennis rackets, is aiming a valuation of up to $8.7 billion for its IPO in the United States, the business announced on Monday, as it prepares for a much-anticipated listing that may test investor appetite for highly priced companies.
- Amer Sports IPO Highlights:
- Targeting a valuation of up to $8.7 billion for its U.S. IPO.
- Plans to raise $1.8 billion by selling 100 million shares at $16-18 each.
- Market Overview:
- IPO market poised for a rebound amid optimism of a soft landing.
- Recent tepid reception to Kaspi.kz indicates investor selectivity.
- Brand Recognition:
- Amer Sports, maker of Wilson tennis rackets.
- Associated with legendary athletes like Roger Federer, Russell Wilson, and Jamal Murray.
- Historic Significance:
- Wilson tennis racket used by 643 Grand Slam title winners.
- IPO Details:
- Reuters reports IPO pricing expected by month-end.
- Current investors (Anta Sports, Anamered, Tencent) show interest in $510 million worth of shares.
- Company Profile:
- Founded in 1950, operates in three segments.
- Home to iconic sports and outdoor brands: Arc’teryx, Salomon, Atomic, Peak Performance.
- Listing Plans:
- Plans to list on the New York Stock Exchange under symbol “AS.”
- Lead Underwriters:
- Goldman Sachs, BofA Securities, JPMorgan, Morgan Stanley, Citigroup, UBS Investment Bank lead the offering.
Must read book about investing– check here
FAA suggests more Boeing checks
United States aviation authority recommends Boeing 737-900ER door plug inspections because they have the same design as a jet engaged in a dangerous mid-air breach earlier this month.
FAA warned late Sunday that 737-900ER operators are “encouraged to conduct a visual inspection” to ensure the door plug is “restrained from any movements.” FAA says move adds “an added layer of safety.”
In prior mid-exit door plug maintenance inspections, certain operators “noted findings” with 737-900ER bolts, the FAA said. Despite not being part of Boeing’s Max fleet, the 737-900ER features the same optional door plug.
The Jan. 5 non-fatal blowout on Alaska Airlines’ 737-9 Max aircraft has increased pressure on Boeing, which has already been under fire for safety issues. The FAA grounded 171 737-9 Max jets after the incident.
Rising earnings season
Large firms including Netflix (NASDAQ:NFLX), Tesla (NASDAQ:TSLA), and 3M (NYSE:MMM) will report their latest earnings this week.
Analysts expect quarterly results to determine the S&P 500’s rally’s longevity.
“If […] we find out that the market has either gotten ahead of itself […] or we get guidance from some of these companies that doesn’t match the bullish sentiment that’s being priced into them, that can be a real risk,” Interactive Brokers (NASDAQ:IBKR) Chief Strategist Steve Sosnick told Reuters
In Europe, chipmaker ASML (AS:ASML), computer accessories maker Logitech (NASDAQ:LOGI), software developer SAP (ETR:SAPG), and fashion giant LVMH (EPA:LVMH) will report.
Sony ends Zee merger discussions
Sony’s Indian unit and Zee Entertainment have ended long-running merger talks that would have produced a $10 billion monster in one of the world’s fastest-growing economies.
The Japanese group stated that it could not continue agreement negotiations beyond Jan. 21. The 2021 deal would have combined two Indian media powerhouses during a period of rising rivalry.
But Sony told Reuters that the merger’s undisclosed closing criteria were “not satisfied,” adding that it was “extremely disappointed” but dedicated to expanding in India.
Zee disclosed in a securities statement that Sony wanted $90 million in termination fees and “emergency interim reliefs.” It denied Sony’s assertions and promised to take “all necessary steps to safeguard the long-term interests of its stakeholders,” including legal action.
Sony refused to let Zee CEO Punit Goenka run the united organization, according to reports. Zee said Monday that Goenka was “agreeable to step down in the interest of the merger.”