(Reuters) -Amer Sports, the maker of Wilson tennis rackets and Salomon ski boots, has confidentially filed for a U.S. initial public offering (IPO) that could value the group at as much as $10 billion, Bloomberg News reported on Wednesday.
The company is targeting an IPO of more than $1 billion and could end up seeking as much as $3 billion depending on market conditions, the report said, citing people familiar with the matter.
Amer Sports plans to list by early next year, Bloomberg’s reported. The company did not immediately respond to a Reuters request for comment.
The news comes against the backdrop of a nascent recovery in the IPO market as several high-profile names including chip designer Arm and grocery delivery firm Instacart charge ahead with their offerings.
Investor appetite has remained subdued for a major part of the last two years following Russia’s invasion of Ukraine and the spike in borrowing costs.
(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)