He ‘s shoes, in which Roger Federer invested, are growing rapidly on the stock market

At the end of Wednesday’s session, the share price was $ 35, which valued the company at approximately $ 11.5 billion. At the same time, in the IPO (abbreviation for initial public offering), which took place in the previous days, On Holding and its existing shareholders sold to investors, mainly from the ranks of funds, securities of $ 24 per share.

The company itself On Holding it sold 25.4 million shares, earning it $ 610 million. You can use them for your further development. Other shareholders, including the New York private equity firm Stripes Group, sold 5.7 million shares. The shares are traded on the New York Stock Exchange under the acronym ONON.

Federer has had an unspecified stake in the company since 2019, with his investment reportedly hovering around $ 50 million. Last year, he collaborated with the company on the development of sneakers that bear his name. The selling price of these shoes for end customers in the Czech Republic is around four thousand crowns.

Founded in Switzerland in 2010, On Holding is one of the fastest growing sports shoe manufacturers in the world. Its largest market is North America, followed by Europe. Although not as large as the established Adidas and Nike brands, the company works with approximately 7,800 retailers worldwide. Last December, the company opened a flagship store in New York.

The company was founded by former professional triathlete Olivier Bernhard, including a six-time Ironman winner, along with his two friends. Their goal was to sell top shoes to runners. The brand excels with soles that cushion impacts well. Thanks to this, He shoes have become very popular among runners. And the popularity grew even more with the advent of last year’s pandemic, which brought a boom in sales of running, sports and leisure shoes.

On Holding is not the only Swiss company to experience its stock exchange premiere in the USA this week. The day before, on Tuesday, shares of Sportradar, a sports data collection and analysis company, began trading on the Nasdaq Stock Exchange. It then sells to bookmakers, sports leagues and television stations that broadcast sports broadcasts.

The legendary basketball player Michael Jordan, currently the owner of the NBA club Charlotte Hornets, has been one of Sportradar’s shareholders since 2015. Jordan ‘s share, according to Wall Street Journal is below five percent. Alongside him, investors include billionaire and NBA Dallas Mavericks owner Mark Cuban. The market value of Sportradar is around five billion dollars.

.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.