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Birkenstock Gears Up for Roadshow in Next Test for IPO Market

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Birkenstock Holding Ltd. is preparing to kick off the roadshow for its US initial public offering in the next major test of demand for new listings, people with knowledge of the matter said.

The German footwear maker plans to start taking investor orders early next week, the people said, asking not to be identified because the information is private. It’s considering seeking a valuation of $10 billion or more in the IPO, according to the people.

The plans are fluid and could still change depending on market conditions. A representative for Birkenstock declined to comment. Vietnamese internet startup VNG Ltd. last week delayed its plans for a US listing after being advised to hold off until market demand improves, Bloomberg News has reported. Others are still doing well, with marketing and data automation provider Klaviyo Inc. still up 16% from its IPO price.

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