Federer-backed shoemaker On valued at over $11 billion in NYSE debut By Reuters

© Reuters. Shoes by ON (Run on Clouds), a shoemaker backed by Swiss tennis player Roger Federer, are pictured in the Swiss Sport Style shop ahead of the Initial Public Offering (IPO), in Lausanne, Switzerland, September 14, 2021. REUTERS/Denis Balibouse


(Reuters) – Shares of Roger Federer-backed On Holding AG jumped more than 47% in their New York Stock Exchange debut on Wednesday, valuing the shoemaker at about $11.35 billion.

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