LVMH has provided backing for Birkenstock through a private equity firm. The popular sandal maker will make its New York Stock Exchange debut on Wednesday morning at $46 per share.
Investors will see shares of Birkenstock make their New York Stock Exchange debut later Wednesday morning as part of the initial public offering previously announced by the German sandal maker with ties to luxury goods company
and Acquiring that majority stake cost $4.8 million, the Wall Street Journal reported. In its prospectus, Birkenstock had said L Catterton-affiliated entities would "control a majority of the combined voting power of our outstanding ordinary shares" post-IPO. The Journal reported ahead of Birkenstock’s planned IPO that the sandal maker might see an increase in ownership from Arnault, who apparently expressed a desire to potentially do so.
CEO’s five children and holds the title of executive vice president of products and communications at Tiffany & Co. Two other individuals are expected to become directors along with him, according to the filing. Earlier in October, prior to reportedly picking its IPO pricing, Birkenstock had said it was looking at a $44-$49 range for its stock.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Birkenstock's looming IPO is expected to become the next test of investor appetite for dealsDeal is expected to price later Tuesday, coming at a time of weak aftermarket performance by recent deals
Leer más »
Birkenstock Stock IPO Looks Richly Priced at Over 35 Times EarningsThe maker of the popular and venerable sandals featured in the Barbie movie plans to go public later Tuesday at a valuation of about $9 billion.
Leer más »
Birkenstock Stock IPO: What to ExpectThe German shoe maker expects to price its IPO between $44 and $49 per share.
Leer más »
Birkenstock Prices IPO at $46 A ShareGerman shoemaker provides first big test of new-issue market since a trio of marquee offerings last month
Leer más »
Birkenstock IPO expected to prove the next test of investor appetite for dealsDeal comes at a time of weak aftermarket performance by recent deals
Leer más »
Jim Cramer says investors should wait and see with Birkenstock's IPOCNBC's Jim Cramer on Monday told investors they may be wise to sit out Wednesday's Birkenstock IPO.
Leer más »