Birkenstock Joins Listings Recovery with U.S. IPO Filing
German footwear brand Birkenstock has filed for an initial public offering (IPO) in the United States, following a surge in the country's equity markets and becoming the second major European company to seek a foreign listing this month. The filing did not disclose financial details but revealed a 19% increase in net revenue for the six months ended March 31. Birkenstock's decision to list in the US comes as European IPO markets struggle, while US listings have seen significant activity. The majority of the combined voting power of the shares after the offering will be controlled by entities affiliated with L Catterton, the private equity firm backed by LVMH.