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Birkenstock Shares Fall in Stock-Market Debut

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Unexpected drop is ominous sign for IPO market

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Birkenstock shares declined in their stock-market debut Wednesday, a potentially brutal blow to an IPO market that was just showing signs of recovery.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

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