September 15 (Hfrance.fr) - Actions of Roger Federer On Holding AG (ONON.N) jumped more than 47% when it debuted on the New York Stock Exchange on Wednesday, valuing the shoemaker at around $ 11.35 billion.
The IPO comes at a time when sports equipment, especially shoes, are flying off the shelves of most retailers as gym closures led by COVID-19 push people to run to stay fit.
The company has sold 31.1 million shares on its initial public offering (IPO) priced at $ 24, well above its $ 20 to $ 22 target price range, raising $ 746.4 million. Its action opened at $ 35.40.
We were founded in 2010 by running enthusiasts Olivier Bernhard, David Allemann and CasparCoppetti, Federer investing an unpulged sum in the company. in 2019.
The 20-time Grand Slam winner teamed up with the company earlier this year to develop the Roger Pro tennis shoe.
We also make a 100% recyclable brand of running shoes, called Cyclon, made from castor beans. The shoes are only available by subion and must be returned to the company for new ones once they are worn out.
The company listing comes at a time when global demand and investor interest in sustainable products is increasing.
Other sustainability-focused startups that have recently become audiences include Hollywood star Jessica Alba 's Honest Co (HNST.O) and Oatly Group AB, supported by Oprah Winfrey (OTLY.O) .
Manufacturer of woolen shoes All birds have also filed an IPO request last month. find out more
In April, Hfrance.fr had reported that the shoemaker was target an ad in the fall which could earn it a valuation of between $ 4 billion and $ 6 billion.
On 's existing shareholders also offered just over $ 5 million shares in the IPO, and the company won't get any of those products.
Goldman Sachs & Co, Morgan Stanley and JP Morgan are among the offerers. Report by Noor Zainab Hussain in Bengaluru; Editing by Amy Caren Daniel and Anil D 'Silva
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