German shoemaker Birkenstock is expected to price its IPO at $46 per share on Tuesday.
German shoemaker Birkenstock is expected to price its IPO at $46 per share, 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 aboveThe 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."
Birkenstock's offering comes as the IPO market remains choppy after a number of recent filers began trading in muted debuts.at $30 per share last month. But after an initial 40% pop, it closed at $33.70 on its first day on the Nasdaq and is now trading below its opening share price. Similar trends have followed Johnson & Johnson spinoff
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