German footwear company Birkenstock announced a conservative pricing strategy for its upcoming initial public offering (IPO) in the United States, setting the initial share price at $46, totaling approximately $2.6 billion. This valuation falls below previous estimates ranging from $4.2 billion to $6.1 billion.
The company seeks to raise capital through this IPO to accelerate its global expansion plans, including the opening of new retail stores, investment in digital infrastructure, and potential acquisitions. Birkenstock is known for its comfortable and functional footwear, with its iconic Arizona sandal as its flagship product.
The IPO timing is subject to market conditions and regulatory approval, but is expected to take place in the first half of 2023. Birkenstock aims to list its shares on the New York Stock Exchange under the ticker symbol .
