On announced today that it has publicly filed a registration statement with the U.S. Securities and Exchange Commission ("SEC") relating to a proposed initial public offering of its Class A ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The Registration Statement relating to the proposed offering has been filed with the SEC but has not yet become effective. On has applied to list its common stock on the New York Stock Exchange under the symbol "ONON".
On is a premium performance sports brand rooted in technology, design and sustainability that has built a passionate global community of fans across more than 60 countries. The company is one of the fastest-growing scaled athletic sports companies in the world having grown its net sales at an 85% compound annual growth rate (“CAGR”) from inception through 2020 to CHF 425.3 million for the year ended December 31, 2020. The growth has continued in 2021, with net sales growing 84.6% to CHF 315.5 million for the six-month period ended June 30, 2021 compared to the six-month period ended June 30, 2020. The net income in the first half year 2021 amounted to CHF 3.8 million compared to a net loss of CHF 33.1 million for the six-month period ended June 30, 2020.
(Press release / SK)
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