Birkenstock (BIRK) Indicated To Open At $44/$46
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October 11, 2023 10:42 AM EDT
Birkenstock (BIRK) Indicated To Open At $46/$48
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October 11, 2023 9:17 AM EDT
Investing.com --Â Birkenstock is set to debut on the New York Stock Exchange on Wednesday after the German shoemaker priced its shares at $46 in its U.S. initial public offering, giving it a fully diluted valuation of $9.3 billion.
The figure is in the middle of Birkenstock's indicated... More
October 11, 2023 7:16 AM EDT
By Manya Saini, Niket Nishant and Chibuike Oguh
(Reuters) - Birkenstock's stock ended more than 12% below its initial public offering (IPO) price on Wednesday in an underwhelming Wall Street debut that signaled investors remain cautious about new listings.
Shares of the 250-year-old German sandal maker started trading at $41 after the IPO had priced at $46. That offering raised $1.48 billion, priced at the midpoint of the indicated range of $44 and $49 on Tuesday. The stock closed at $40.20, down 12.61%.
The 11% decline from Birkenstock's IPO price on Tuesday to its opening price on Wednesday marks the worst debut by a company... More
