Anta Sport could see boost from subsidiary Amer's $1B IPO

Anta Sports Products, China’s biggest sportswear maker, “might get a boost” from the $1B IPO of its subsidiary, Amer Sports , as it “challenges global giant Nike and fends off intensifying competition in its home market in 2024,” according to Zhang Shidong of the SOUTH CHINA MORNING POST. Amer, which is known for its Wilson tennis rackets and Salomon ski boots, has applied for a listing in New York and will “probably be valued at as much” as $10B after the stock offering. The proceeds might help Amer, in which Anta has a 52.7% stake, “further expand its foothold in China.” According to Everbright Securities, Anta, had a 20.4% "share of the sportswear market in China in 2022, behind" Nike’s 22.6% slice of the pie. The Amer IPO also comes at a time when investment banks including Citigroup say that Anta “might face headwinds from increasing rivalry and marketing costs linked to" the 2024 Paris Games ( SOUTH CHINA MORNING POST, 1/5 ).