Wilson tennis racquets maker Amer Sports is targeting a valuation of up to $8.7 billion for its U.S. initial public offering, the company said on Monday, as it moves toward a much-anticipated listing that could test investor appetite for richly valued firms.

The IPO market is looking to stage a rebound as bets of a soft landing firm up, after an arid two-year spell when economic uncertainty and high interest rates sapped interest for new listings.

However, the tepid reception last week to Kazakhstan’s Kaspi.kz, another highly-valued firm, showed that investors continue to be picky.

Amer Sports, whose world renowned Wilson brand is associated with several legendary athletes including Roger Federer, Russell Wilson and Jamal Murray, said it plans to raise up to $1.8 billion by selling 100 million shares priced between $16 and $18 each.

The Wilson tennis racquet has been used by 643 Grand Slam title winners so far.

Reuters reported last week that the company was planning to price its IPO by the end of the month.

The company’s current investors – Anta Sports, Anamered Investments and Tencent Holdings – have indicated an interest in purchasing up to $510 million worth of shares at the IPO price, Amer said.

Founded in 1950, Amer Sports operates in three segments and is home to iconic sports and outdoor brands including Arc’teryx, Salomon, Atomic and Peak Performance.

The company plans to list on the New York Stock Exchange under the symbol “AS”.

Goldman Sachs, BofA Securities, JPMorgan, Morgan Stanley, Citigroup and UBS Investment Bank are the lead underwriters for its offering.

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