German premium footwear company Birkenstock Holding has priced its US initial public offering (IPO) at $46 per share, raising approximately $1.48 billion. The IPO values the company at around $9.3 billion and follows the recent listings of Arm Holdings, Instacart, and Klaviyo, which initially saw share price gains before declining. Birkenstock, which was founded in 1774 and has been seeking to establish itself as a fashionable brand, has seen L Catterton acquire a majority stake this year. Following the IPO, L Catterton will hold an 82.8% stake in Birkenstock.
German footwear manufacturer Birkenstock has priced its US IPO conservatively at $46 per share, raising $1.48 billion and valuing the company at $9.3 billion. The IPO comes after similar listings by Arm Holdings, Instacart, and Klaviyo raised hopes of a broader recovery in the equity capital markets, although these companies subsequently had declines in share prices. Birkenstock, which has been positioning itself as a fashionable brand, has had a majority stake acquired by L Catterton this year. Following the IPO, L Catterton will control 82.8% of Birkenstock’s outstanding shares.
Birkenstock, a German premium footwear company, has priced its US IPO at $46 per share, with the offering raising $1.48 billion and valuing the company at about $9.3 billion. The IPO follows recent stock market launches by Arm Holdings, Instacart, and Klaviyo, although these companies saw their share price gains diminish in the days that followed. Birkenstock, which has been striving to position itself as a fashionable brand, saw L Catterton acquire a majority stake in the company this year. After the IPO, L Catterton will hold an 82.8% stake in Birkenstock.
