This article only represents the author's own views.

After several false starts based on repeated market rumors, leading sportswear maker Anta Sports Products Ltd. (2020. HK) is finally off to the races with plans to spin off its Finland-based Amer unit for a separate New York listing. Anta finally sprinted from the gate with the news earlier this month, saying it planned to list the unit on the New York Stock Exchange. The positive news fueled a brief rally for Anta’s own Hong Kong-listed shares, which rose as much as 3.5% before running out of fuel and ultimately closing down slightly on the day.

Amer’s prospectus filed with the U.S. securities regulator shows the company was founded in 1950 in Helsinki, and listed locally in 1977. It was privatized in 2019 by an Anta-led consortium whose other members included private equity fund FountainVest Partners, Lululemon founder Chip Wilson and internet giant Tencent (0700.HK). It currently owns several sporting brands, including Salomon athletic shoes; Arc'teryx outdoor wear; and sports equipment maker Wilson. It employs 10,800 and sells its products in more than 100 countries.