Federer-Backed Shoemaker On Holding Jumps 46% in U.S. Debut

Federer-Backed Shoemaker On Holding Jumps 46% in U.S. Debut

Federer-Backed Shoemaker On Holding Jumps 46% in U.S. Debut - Oops!Something went wrong.Please try again later. (Bloomberg) -- Swiss running shoemaker On Holding AG, whose proprietary cushioning technology has attracted tennis legend Roger Federer as an investor, climbed 46% on its first day of trading in New York. The shares closed at $35.00 on Wednesday, after being sold for $24 apiece in the initial public offering. The Zurich-based company raised $746 million after marketing the stocks for $20 to $22. On has become one of the world’s fastest-growing running-shoe brands since it was founded a decade ago. The marque got a boost from the pandemic thanks to a lockdown-inspired boom in running, outdoor and casual clothing. The shoes, known for their distinctive tubular cushions on the sole, have garnered somewhat …
More on: finance.yahoo.com