Birkenstock announces IPO pricing
Birkenstock, which went public last week, has announced the official pricing of its initial public offering of 32,258,064 ordinary shares at a public offering price of £37.45 ($46.00) per share.
The global footwear retailer is offering 10,752,688 ordinary shares and the selling shareholder is offering 21,505,376 ordinary shares. The selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 4,838,709 ordinary shares to cover over-allotments.
The ordinary shares are expected to begin trading on the New York Stock Exchange on 11 October 2023 under the symbol "BIRK". The closing of the offering is expected to occur on 13 October 2023, subject to closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. The book runners include BofA Securities, Citigroup, Evercore ISI, Jefferies, UBS Investment Bank, BNP PARIBAS, Bernstein, and HSBC.
A registration statement on Form F-1 relating to the offering has been filed with the U.S. Securities and Exchange Commission and was declared effective on 10 October 2023.
The Birkenstock family is still involved in the brand and brothers Christian and Alex Birkenstock still hold shares. The brothers were believed to have netted around £1.3 billion each after the sale to L Catterton and are in for another big payday.
