UPDATE 1-Novator sells 20 pct of Amer, shares fall

* Novator sells its 20 pct stake in Amer Sports

* Prices shares at 7 euros each vs 8.30 euros Wed close

* Amer shares drop more than 15 pct

(Adds shares)

HELSINKI, July 2 (Reuters) - Icelandic investment firm Novator on Thursday sold its 20.11 percent stake in sporting goods firm Amer Sports (AMEAS.HE) to institutional investors at roughly a 15 percent discount to Wednesday's closing price.

Amer Sports shares were 15.4 percent lower at 7.02 euros 0718 GMT.

Novator sold its 14.7 million shares at 7 euros each through SEB Enskilda. (Editing by Mike Nesbit)