On Holding AG

On Holding AG (ONON) priced its initial public offering on Sep 16, 2021 at $24.00 per share, above its $20.00–$22.00 range, raising $746.4M, and listed on NYSE. At the IPO price its market capitalization was about $6.51B. Goldman Sachs was lead-left underwriter, joined by Morgan Stanley, J.P. Morgan and Allen & Company and others. Davis Polk advised the company and Cravath advised the underwriters.

On Holding AG is a Swiss performance running brand, born in the Swiss Alps, known for the idea of soft landings followed by explosive take-offs. It designs products for athletes and everyday consumers, focusing on performance, design and impact.

Status

IPO

Ticker

ONON

Exchange

NYSE

Priced

Sep 16, 2021

IPO price

$24.00

Price range

$20.00–$22.00

Raised

$746.4M

Market cap at IPO price

$6.51B

First filed

Aug 23, 2021

Underwriters

Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, UBS, Credit Suisse, Baird, Stifel and Telsey

Company counsel

Davis Polk

Underwriters' counsel

Cravath

Sector

Industrials & materials

Country / state

Switzerland

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.