"Birkenstock Expects To Prices IPO At $46 Per Share, Toward Midpoint Of Stated Range" - CNBC
Portfolio Pulse from Benzinga Newsdesk
German shoemaker Birkenstock is expected to price its IPO at $46 per share, giving it a tentative valuation of about $8.64 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 York Stock Exchange under the ticker 'BIRK'. The offering could bring in around $1.48 billion. The company's growth and profitability have sparked interest from investors despite an overall slowdown in the footwear sector.
October 10, 2023 | 9:05 pm
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Birkenstock is expected to price its IPO at $46 per share, giving it a tentative valuation of about $8.64 billion. The company could raise around $495 million when it begins trading on the NYSE under the ticker 'BIRK'.
The news of Birkenstock's IPO pricing is directly related to the company's stock. The pricing of the IPO at $46 per share is within the company's stated range, which could be seen as a positive sign by investors. The company's growth and profitability, despite a slowdown in the footwear sector, could also be seen as a positive sign for the company's future performance.
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