Sandal maker Birkenstock plans to hold an initial public offering at the upper end of the price range: $49 per share. The company could receive a valuation of $10 billion, Reuters has learned.
Trading in the shares is scheduled to begin on Wednesday, October 11. Birkenstock will raise $1.58 billion in the placement if it breaks the upper limit.
Birkenstock will become the fourth major company to make an initial public offering (IPO) in the United States in the last month, joining chipmaker Arm Holdings, grocery delivery company Instacart and marketing automation platform developer by email and SMS Klaviyo.
Author:
Karina Pardaeva
Source: RB
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