Birkenstock Holding is targeting a valuation of up to $9.2 billion in its initial public offering.
What Happened: Birkenstock Holding, the ultimate parent company of the Birkenstock shoe brand, announced plans to sell approximately 10.75 million shares for between $44 and $49 per share in its planned IPO, per a new filing with the SEC.
Private-equity firm L Catterton will also offer another 21.5 million shares in the offering, bringing the total share count up to approximately 32.3 million shares. The company expects to have around 187.8 million shares outstanding following the offering, which would give the company a valuation of more than $9 billion at the high end.
The news comes as the IPO market has started to heat up again. Arm Holdings Plc
Birkenstock has applied to list its shares on the New York Stock Exchange under the ticker symbol "BIRK."
