Birkenstock prices US IPO at $46 per share

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German premium footwear maker Birkenstock Holding priced its U.S. initial public offering (IPO) at the middle of its indicated price range at $46 per share, the company said on Tuesday.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

11 Oct 2023

Birkenstock and its underwriters chose to price the offering conservatively given the market volatility, despite having enough demand to price the share sale at the top of the indicated range of $44 to $49 per share, according to people familiar with the matter.

The IPO raised about $1.48 billion based on 32.3 million shares sold and values the company at about $9.3 billion on a fully diluted basis.

Birkenstock is the fourth major company to launch a U.S. IPO in the last four weeks following those of chip designer Arm Holdings, grocery deliver app Instacart and marketing automation platform Klaviyo.

The slew of recent listings briefly raised hopes of a broad recovery in equity capital markets after a nearly 18-month dry spell. However, the three newly listed companies gave up most of their share price gains in the days following their IPOs, raising concerns over