(Bloomberg) -- Footwear maker Birkenstock Holding Plc priced shares within a marketed range at $46 each in its initial public offering, according to a person...
-- Footwear maker Birkenstock Holding Plc priced shares within a marketed range at $46 each in its initial public offering, according to a person familiar with the matter who asked not to be identified because the information wasn’t public yet.In a fourth big test of the US IPO market in a month, Birkenstock and private equity backer L Catterton are set to raise $1.48 billion. The German company and L Catterton were offering about 32 million shares for $44 to $49 each on Tuesday.
Birkenstock was planning to sell 10.8 million of the shares in the IPO, while L Catterton was to sell 21.5 million and will continue to own about 83% of the stock and control the company, according to the filing. Arm’s shares have gained a modest 9.2% from their IPO price, while Instacart is trading 10% below it offer price. Klaviyo has fared the best of the cadre but even after a 22.5% jump in its trading debut, its IPO investors have seen a return of 16%.
Birkenstock’s sales have been boosted of late by the blockbuster Barbie movie, which stars Margot Robbie in the title role donning a pair of pink Birkenstocks in one scene.
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