Adidas announced Thursday it has announced a $1.1 billion stock sale, making it the first public company to offer stock on the open market since 2007.
The stock sale was announced in a news release from the company, which said the stock will trade on the New York Stock Exchange under the ticker symbol AUSP.
Adidas also plans to release new sneakers and apparel to market through its subsidiary, Adidas Originals.
The stock sale follows an $8.5 billion stock buyback last year.
The Adidas Origines brand was founded in 1993 and has sold more than 200 million sneakers.
Adidas was bought by China’s Lenovo Group in 2016.