With Roger Federer’s participation – On dares to go public in New York billions

– On wagt Milliardenbörsengang in New York

The sports shoe brand is expected to announce its listing on the stock exchange in the coming week. It will be the largest IPO of a Swiss company since 2011.

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Peter Burkhardt

Updated 57 minutes ago—

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The rumors whensieren sIt’s been a year now, and now the Swiss running shoe company On Running is apparently serious about its stock market plans. On wants to announce the IPO on the New York Stock Exchange in the coming week, wrote the business magazine “Bilanz” on Friday. It is was referring to “multiple sources”. One himself did not comment on the article.

On strebt according to article eA valuation of between $ 6 billion and $ 8 billion. It would be the largest IPO of a Swiss company since Glencore opened its doors to the public in May 2011. There were already rumors in April that the company would go public in the USA in the fall. At that time it was a possible valuation of $ 5 billion expected.

Roger Federer is involved with 50 million francs

Play the leading role in the IPO gaccording to the «balance sheet» the three US banks JP Morgan, Goldman Sachs and Morgan Stanley. Swiss banks apparently only play a minor role – including Credit Suisse, Roger Federer’s house bank.

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Federer has an estimated 50 million francs in On. He joined the company at the end of 2019 as a co-owner and advertising ambassador. The tennis star is likely to play a key role as a door opener in attracting customers to new markets. On has some catching up to do, especially in Asia. In addition, the company has not yet succeeded in attracting top athletes as figureheads.

The company founders initially worked in their apartments

On was founded in 2010 by Olivier Bernhard, David Allemann and Caspar Coppetti. At first they tinkered with the running shoes in their three apartments, later in a two-room apartment in Zollikon ZH.