Birkenstock reportedly prices IPO at $46 a share, CNBC says

Investing.com -- Birkenstock Holding ltd (NYSE: BIRK) is set to price its shares at $46 ahead of its initial public offering on Wednesday, CNBC reported Tuesday, citing an unnamed source.

The reported IPO price is in the middle of its previously announced range of $44 to $49 per share. The company plans to offer 32 million shares, raising about $1.5 billion.

Birkenstock starts trading on the Nasdaq as “BIRK” on Wednesday.

A large chunk, roughly 90%, of the company's revenue comes from the Americas and Europe, and the German footwear maker has a broad female following, which make up about 70% of its customers, who are mostly Millennials, Gen X, and Baby Boomers.

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