BUSINESS NEWS | Federer – Backed Sports Shoe Maker On Preparing For IPO, Swiss Paper Says

PRAGUE, CZECH REPUBLIC – SEPTEMBER 23: Roger Federer and Rafael Nadal of Team Europe react during there doubles match against Jack Sock and Sam Querrey of Team World on Day 2 of the Laver Cup on September 23, 2017 in Prague, Czech Republic. The Laver Cup consists of six European players competing against their counterparts from the rest of the World. Europe will be captained by Bjorn Borg and John McEnroe will captain the Rest of the World team. The event runs from 22-24 September. (Photo by Julian Finney/Getty Images for Laver Cup)

VIENNA – Swiss sports shoe maker On, partly owned by tennis champion Roger Federer, is in the early stages of preparing for a stock exchange listing in summer or autumn of next year, newspaper NZZ am Sonntag reported.

The Zurich – based company, founded 10 years ago, says it has  special sole technology that is soft on impact and firm on the rebound, and it has been growing fast. It announced in November that Federer was ‘co-owner’. He has also helped advertise the brand and it has named a limited-edition sneaker after him.

On values itself at almost 2 billion francs ($2.1 billion), NZZ said, based on companies registry data showing that when the firm carried out a capital increase in February its share price was 8,884 francs and roughly 217,000 are in issue.

The company has made the first preparation for an IPO and they are still ‘at an early stage’, NZZ said, citing several independent but anonymous sources.

On was not immediately available for comment. NZZ said the company and Federed decline to comment for its article.


Travel | Honduras To Reopen Domestic And International Flights In Mid-August

MILAN | ITALY – Honduras announced Tuesday it will reopen its airports to domestic and international flights in mid-August, after a nearly five-month closure due to the pandemic. The reopening of the airport is part of the government’s efforts to reactivate the economy, which is expected to contract between 7% and 8%, according to the … Continue reading Travel | Honduras To Reopen Domestic And International Flights In Mid-August

BREAKING NEWS | Trump Says Beirut Explosion Seems To Be ‘Bomb Of Some King’

MILAN | ITALY – President Donald Trump on Tuesday cast a massive explosion that killed dozens of people and wounded thousands in Lebanon’s capital, Beirut, as a possible attack and offered U.S. help. ‘The United States ready to assist Lebanon’, Trump said at a White House briefing. ‘We will be there to help. It looks … Continue reading BREAKING NEWS | Trump Says Beirut Explosion Seems To Be ‘Bomb Of Some King’

BREAKING NEWS | Trump Says U.S. Ready To Assist Lebanon After ‘Terrible Attack’

MILAN | ITALY – President Donald Trump on Tuesday said he sent his sympathies to Lebanon for the dozens of people killed and thousands wounded in a massive explosion in Beirut, which he cast as an attack, and offered U.S. help. ‘The United States stands ready to assist Lebanon’, Trump said at a White House … Continue reading BREAKING NEWS | Trump Says U.S. Ready To Assist Lebanon After ‘Terrible Attack’

BREAKING NEWS | U.K. PM Johnson Offers Support To Beirut After Massive Blast

LONDON – Prime Minister Boris Johnson said Britain stood ready to provide any support it could to help Beirut after a massive explosion in the city’s port area killed 25 people and injured more than 2,500. ‘The pictures and videos from Beirut  tonight are shocking’, Johnson wrote on Twitter. ‘All of my thoughts and prayer … Continue reading BREAKING NEWS | U.K. PM Johnson Offers Support To Beirut After Massive Blast

BREAKING NEWS | Massive Blast Rips Through Beirut, Killing 50 And Injuring Thousands

BEIRUT | LEBANON – A huge explosion in port warehouses near central Beirut Killed more than 50 people, injured over 2,750 and sent shockwaves that shattered windows, smashed masonry and shook the ground across the Lebanese capital. Officials expected the death toll to rise further after Tuesday’s blast as emergency workers dug through rubble to … Continue reading BREAKING NEWS | Massive Blast Rips Through Beirut, Killing 50 And Injuring Thousands

BREAKING NEWS | Saudi Arabia Following With Great Concern Consequences Of Beirut’s Explosion: SPA

RIYADH  | SAUDI ARABIA – Saudi Arabia’s foreign ministry said on Tuesday that is it following with great concern the consequences of Beirut’s port explosion, according to the state news agency. The statement also affirmed the kingdom’s full support and solidarity with the Lebanese people. The death toll from a massive explosion in Beirut  on … Continue reading BREAKING NEWS | Saudi Arabia Following With Great Concern Consequences Of Beirut’s Explosion: SPA

TRAVEL | Jordan Delays Resuming International Flight After COVID-19 Surge Abroad

AMMAN – Jordan on Tuesday postponed a resumption of international flight services that was planned for Wednesday almost five months after they were suspended due to the coronavirus outbreak, officials said. Civil Aviation Commission chief Haitham Mistro has announced last month that Queen Alia International Airport outside the capital Amman would reopen on Aug.5 for … Continue reading TRAVEL | Jordan Delays Resuming International Flight After COVID-19 Surge Abroad

SPORT | Red Card For Virus As Saudi Pro League Returns With Riyadh Derby

RIYADH | SAUDI ARABIA – The most popular rivalry in the Saudi Pro League (SPL) will take center stage as Al-Nassr host Al-Hilal on Wednesday, with safety precautions to allow the safe return of football in the Kingdom. The eagerness for football’s return will be highlighted when players arrive fully kitted at King Fahd Stadium, … Continue reading SPORT | Red Card For Virus As Saudi Pro League Returns With Riyadh Derby

ROYALS | Former King Juan Carlos To Leave Spain Amid Corruption Allegations

MADRID – Spain’s former king Juan Carlos has told his son, King Felipe, that he is leaving the country, the Royal House said on Monday, in a dramatic move designed to protect the monarchy after corruption allegations against him surfaced. In June, the Spanish Supreme Court opened an investigation into Juan Carlos’s involvement in a … Continue reading ROYALS | Former King Juan Carlos To Leave Spain Amid Corruption Allegations

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