– On’s billion deal brings shine to Zurich, but hardly any money
The shoe manufacturer on hat in New York celebrated a stock exchange party. Despite huge profits, local taxpayers hardly benefit. Would the 99 percent initiative change that?
There’s a lot of glamor there: Roger Federer is an investor and ambassador for the shoe brand On. And there is now a lot of money: The IPO in New York turned On into a $ 10 billion company overnight. That’s the Market value. Cash flowed $ 750 million into On Holding’s coffers, like that Stock exchange prospectus can be found.
Going public has also made Swiss management rich. The three founders David Allemann, Caspar Coppetti and Olivier Bernhard as well as the two co-managing directors Martin Hoffmann and Marc Maurer received a total of 246 million dollars for the shares that were sold. The value of the shares that five managers still hold has exploded and now total over $ 2 billion or 1.85 billion Swiss francs.