Birkenstock models stand in a retail store of the shoe manufacturer. The company plans to go public in New York.
Sebastian Christoph Gollnow | Picture Alliance | Getty Images
Birkenstock, the longtime German shoe brand known for its comfy and durable styles, is expected to price its IPO at $46 per share on Tuesday, giving it a tentative valuation of about $8.64 billion, according to a person familiar with the matter.
The expected pricing came in just shy of the midpoint of Birkenstock’s stated range of $44 to $49 per share and gives it a market cap that’s above Crocs and in line with Swiss shoe brand On Running. The pricing could still change and hasn’t been confirmed by Birkenstock.
The pricing could still change and hasn’t been confirmed by Birkenstock.
Birkenstock had originally sought a valuation of up to $9.2 billion.
The company initially expected to sell about 10.75 million ordinary shares in the offering and could raise around $495 million when it begins trading on the New…
2023-10-10 16:16:39
Post from www.cnbc.com
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