Birkenstock's US IPO is priced at $46 per share, raising $1.48 billion and valuing the company at $9.3 billion on fully diluted basis.
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Conservative pricing
Despite strong demand for a higher share price, the LVMH-owned German footwear giant opted for a more conservative approach due to current market fluctuations.
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Optimistic market trend
Recent IPOs, including Arm Holdings, Instacart, and Klaviyo, sparked optimism for a rebound in the equity capital markets after an 18-month dry spell.
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Birkenstock's legacy
Founded in 1774, the family-run business spanned six generations and transformed into a trendy brand sported by models and celebrities alike.
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Catterton's 2021 acquisition
In 2021, L Catterton, backed by French billionaire Bernard Arnault and luxury leader LVMH, bought a majority stake in Birkenstock for $4.3 billion
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Post-IPO ownership structure
Post-IPO, Catterton will retain an 82.8% stake, and Birkenstock shares will start trading on NYSE today under the ticker "BIRK."