Federer-backed shoe store On is aiming for a US IPO of over $ 6 billion

Holding AG, a shoe company backed by Swiss tennis star Roger Federer, is targeting an initial public offering (IPO) of more than $ 6 billion in the US regulatory agency. Filing Shown on Tuesday.

The company plans to sell 31.1 million shares in its IPO at a price of $ 18 to $ 20 per share. Raise $ 622 million at the top of the price range.

Reuters report In April, the shoe store was aiming for an autumn listing with a valuation of $ 4 to $ 6 billion.

On’s existing shareholders are offering approximately 5.66 million shares in the IPO. The company does not earn any income from the sale of these shares.

The Zurich-based company was founded in 2010 by Olivier Bernhard, David Aleman and Casper Koppetti. Federer invested in the company in 2019, according to Filing.

Goldman Sachs & Company, Morgan Stanley and JP Morgan are the underwriters of this offering. About the plan to be listed on the New York Stock Exchange with the “ONON” symbol.

By Sohin iPodder


Posted on