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

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

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 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 theCopyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.
Source: ksatnews - 🏆 442. / 53 Read more »

Stock market today: Asian shares rise after eased pressure on bonds pushes Wall Street higherShares are higher in Asia, tracking Wall Street gains following an easing of pressure from the bond market. U.S. futures slipped and oil prices rose slightly. Investor sentiment got a boost from a report by Bloomberg, citing unnamed sources, that the Chinese government is considering boosting spending on construction to support the slowing economy. On Tuesday, the S&P 500 rose 0.5% and the Dow added 0.4%. The Nasdaq composite climbed 0.6%. Treasury yields eased considerably after trading resumed
Source: AP - 🏆 728. / 51 Read more »