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L Catterton

All articles tagged with #l catterton

business2 years ago•2 min saved

Birkenstock's IPO stumble: A rocky start for the global empire

German sandal maker Birkenstock had an underwhelming IPO debut on Wall Street, with its stock closing more than 12% below its initial public offering price. The shares started trading at $41, below the IPO price of $46, and closed at $40.20. This marks the worst debut by a company worth over $1 billion in nearly two years. The weak performance reflects cautious investor sentiment towards new listings, as other recent high-profile IPOs have also seen their shares fall. Despite the disappointing debut, Birkenstock still has a market capitalization of over $8 billion, double the amount at which L Catterton acquired a majority stake in the company earlier this year.

via New York Post |

#birkenstock #business #investor-demand

business2 years ago•2 min saved

Birkenstock's IPO Prices at $46 per Share, Near Midpoint Range

German footwear maker Birkenstock has priced its US initial public offering (IPO) at $46 per share, raising about $1.48 billion and valuing the company at approximately $9.3 billion. Despite having enough demand to price the share sale at the top of the indicated range, Birkenstock chose a conservative pricing strategy due to market volatility. The IPO comes after a dry spell in equity capital markets, with Birkenstock being the fourth major company to launch a US IPO in the last four weeks. Following the IPO, L Catterton will hold an 82.8% stake in Birkenstock.

via Reuters|

#birkenstock #business #footwear

business2 years ago•1 min saved

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.

via Reuters|

#birkenstock #business #european-listings