Federer-Backed Shoemaker ‘On’ Aims for Over $6 Billion Valuation in US IPO

Federer-Backed Shoemaker ‘On’ Aims for Over $6 Billion Valuation in US IPO
Roger Federer (SUI) plays against Hubert Hurkacz (POL) in the quarter finals at All England Lawn Tennis and Croquet Club in London, on July 7, 2021. Peter van den Berg-USA TODAY Sports/Reuters
Reuters
Updated:
On Holding AG, a shoe firm backed by Swiss tennis star Roger Federer, is targeting a valuation of more than $6 billion in a U.S. initial public offering (IPO), a regulatory filing showed on Tuesday.

The company plans to sell 31.1 million shares in the IPO, priced between $18 and $20 per share. It would raise $622 million at the top end of the price range.