Birkenstock is targeting a valuation of up to $9.2 billion for its IPO. The share issue is expected to raise up to $1.58 billion, including the placement reserve it could even be $1.92 billion. Two thirds of the proceeds go to the investment company L Catterton, which is backed by the French billionaire Bernard Arnault, owner of the luxury group LVMH. Birkenstock wants to use the rest to repay part of its debts. The IPO is largely secured: Financiere Agache, Arnault’s private holding company, has signaled that it will subscribe for shares for up to $325 million, with a total of $300 million coming from investor Durable Capital Partners and the Norwegian sovereign wealth fund. “The interest from prominent investors is remarkable,” says Matt Oguz, head of the Iris Family Office in Silicon Valley. He wants to subscribe to Birkenstock shares.
2023-10-05 14:01:12
#Test #Birkenstock #stock #market
