Footwear maker Birkenstock has priced its shares for an IPO in the US at $46 per share.
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German shoe maker Birkenstock has chosen a price for its IPO on the New York Stock Exchange (NYSE) close to the middle of its target range of $46 per share. The newspaper reported this The Wall Street Journal with reference to sources. The company’s market value at this price will be approximately $8.6 billion.
2 October reportedthat Birkenstock will place 32 million shares at $44–49 per share. As WSJ sources note, when choosing the final price, the company took into account the instability of the markets.
Trading of shares on the NYSE is scheduled to begin on October 11 under the symbol BIRK. The placement was conducted by Goldman Sachs, JPMorgan Chase and Morgan Stanley. Agency Reuters On October 8, it was reported that Birkenstock had secured the required level of investor applications.
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