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 aboveFeeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyThe 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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