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Birkenstock Group B.V. & Co. KG is getting ready for its Initial Public Offering (IPO). The German shoe manufacturer is gunning for a $9.2 billion valuation in its stock market debut.
Birkenstock will trade at the New York Stock Exchange and will be listed under the “BIRK” ticker. Likewise, as Birkenstock goes public, 32 million common shares are up for sale on the stock exchange.
Birkenstock’s Available Share and Prices
From the available 32 million shares, Hypebeast reported that about 10.7 million are being offered by the sandal and shoemaker on its own. On the other hand, the remaining 21.5 million shares are up for grabs from an existing stockholder who is selling shares.
It was mentioned that the shareholder is offering another 4.8 million through the NYSE’s overallotment clause. Under this proviso, the sale of additional shares a company plans to issue is allowed within the 30-day days.
The company expects to sell each share for $44 and $49 once Birkenstock is listed on the market. The German firm expects to raise about $1.6 billion from selling its 32 million shares at the IPO.
LVMH Mogul Bernard Arnault’s Son Tapped for Birkenstock Board
On Monday, Oct. 1, the sandal giant revealed that as it debuted at the NYSE, it has also tapped LVMH chairman Bernard Arault’s son, Alexandre Arnault, to be on the board of directors, as Forbes.
The nomination for the 31-year-old Arnault was also indicated at Birkenstock’s filing with the U.S. Securities and Exchange Commission this week. Birkenstock further disclosed that the Arnault family’s holding firm, Financière Agache, already owns a controlling stake in the company after making the purchase in 2021.
Finally, Birkenstock said Financière Agache expressed interest in buying up to $325 million worth of the company’s shares once it goes public.
Photo by: Jakob Owens/Unsplash
