Birkenstock has filed for an initial public offering Tuesday with a future filing to outline the proposed terms of the sale, according to a report from Bloomberg.
Backed by Goldman Sachs Group (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM) and Morgan Stanley (NYSE: MS), the offering could indicate a resurgence in the U.S. IPO market and the appeal of U.S. markets in general. The comeback of the U.S. IPO market has been supported by other recent listings, such as Softbank's (OTC: SFTBY) Arm.
The IPO seems like a logical step for the company which has seen increasing demand. Revenue for the company rose 29% last year to approximately $1.29 billion, with adjusted earnings of $4.2 million.
The stock is to be listed as BIRK on the New York Stock Exchange.