Birkenstock,
the German sandals maker, is seeking a valuation of up to $9.2 billion in its New York initial public offering.
The premium footwear brand has priced its shares at between $44 and $49, and is aiming to raise up to $1.58 billion in its New York IPO, according to a filing with the Securities and Exchange Commission Monday.
The target valuation is greater than the $8 billion that Birkenstock was looking at last month, according to multiple reports.
Goldman Sachs,
JPMorgan,
and
Morgan Stanley
are leading the banks on the deal.
The company filed papers for its IPO last month, shortly before British chip designer
Arm Holdings
(ticker: ARM) and delivery platform
Instacart
(CART) made their much-anticipated trading debuts.
The flurry of activity pointed toward an uptick in the IPO market, although after impressive opening days both Arm and
Instacart
stocks have fallen back to around their IPO prices.
Birkenstock clearly feels the underwhelming starts made by those stocks since their openings won’t dampen demand for its shares. Only time will tell.
Write to Callum Keown at [email protected]
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