Premium Swiss athletic brand On Running has warned that UBS’s acquisition of rival Credit Suisse risks limiting choice for start-ups in the country when they eventually seek to list.
Both UBS and Credit Suisse underwrote On Running’s equity when it launched its initial public offering in 2021. The company has gone on to become a New York-listed global fitness brand whose running shoes and kit are popular with young professionals and professional athletes. On Tuesday it reported annual sales of more than £1bn for the first time in its history.
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