Wilson products at the Paragon Sports store in the Chelsea neighborhood of New York on Jan. 4, 2024. Amer Sports, the Finnish athletic company behind the Wilson tennis racket and Arc'teryx, debuted on the public markets Thursday at $13.40 a share after pricing its IPO at a discount. The offering values Amer at about $6.3 billion, down from a previous valuation of up to $8.7 billion. Amer's decision to discount its IPO came after Federal Reserve Chair Jerome Powell indicated the central bank isn't ready to start cutting rates, casting a pall over market sentiment and the floundering IPO market. Wall Street has been eager to see a resurgence in the IPO market after it grounded nearly to a halt over the past two years, but recent debuts, including from German shoemaker Birkenstock , have been muted and failed to impress.

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Persons: Wilson, Amer, Jerome Powell, Birkenstock Organizations: Paragon Sports, Wilson, New York Stock Exchange Locations: Chelsea, New York, Finnish