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On sneakers point to a $ 6 billion valuation on Wall Street


By

Reuters

Translated by

Rocío ALONSO LOPEZ

Posted on



Sep 8 2021

On Holding, a sports shoe brand in which tennis champion Roger Federer is a shareholder, aims for a valuation of more than 6 billion dollars (5.1 billion euros) as part of its proposed listing on the New York Stock Exchange, according to documents released this Tuesday.

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Roger Federer is a shareholder of On – Instagram On Running

The company plans to place 31.1 million shares on the market in this initial public offering (IPO) at a unit price of between $ 18 and $ 20. In the best of cases, the operation would bring him 622 million dollars.

Reuters reported in April that the shoemaker wanted to go public in the fall, with a valuation target of between $ 4 billion and $ 6 billion.

The current shareholders of the company will sell about 5.66 million shares in the IPO.

Founded in Zurich in 2010 by Olivier Bernhard, David Allemann and Caspar Coppetti, Roger Federer entered its capital in 2019 according to the documents.

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