Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandals

The 249-year-old German maker of upmarket sandals set a price of $46 per share for its initial public offering of stock, valuing the company at $8.64 billion.

Birkenstock is due to start trading Wednesday on the New York Stock Exchange under the “BIRK” ticker symbol. Birkenstock Holding Ltd. sold about 10.8 million shares in the offering, raising about $495 million. Its shareholders sold an additional 21.5 million shares. The company’s footwear was first cobbled together by Johann Adam Birkenstock in Germany in 1774. The sandals have long been derided as the antithesis of high fashion but have a cult following and this year got a plug in the blockbuster film “Barbie.”

Birkenstock’s IPO will be the fourth to launch in the U.S. in the past month, following Arm Holdings, Klaviyo and Instacart. There were just 71 IPOs in the U.S. last year, the lowest number since 2009, according to Renaissance Capital.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsNEW YORK (AP) — Birkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day. The 249-year-old German...
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »

Stock market today: Wall Street points higher on hints that interest rate hikes may abateWall Street is following global markets higher before Tuesday's opening bell on some potentially encouraging news about interest rates, which have been dragging markets lower since the summer.
Fonte: CTVNationalNews - 🏆 82. / 51 Leggi di più »

Stock market today: Wall Street rallies as pressure relaxes from the bond marketU.S. stocks are rallying Tuesday as pressure on Wall Street from the bond market comes off the boil.
Fonte: CTVNews - 🏆 1. / 99 Leggi di più »