Posted 10/8/2023, 5:10:56 PM
Birkenstock Prices IPO at $49/Share, Reaching $10 Billion Valuation Amid High Investor Demand
- Birkenstock to price IPO at top of $44-$49/share range, attaining $10 billion valuation
- Strong investor demand allows Birkenstock to price at high end
- Would raise $1.58 billion at $49/share
- Follows recent trend of IPOs pricing high amid demand then dropping post-debut
- Birkenstock commands high valuation of 27x trailing EBITDA vs 21x for Nike
- Cornerstone investors lined up, including over $1 billion from Baron Funds
- Founded in 1774, family-run for generations before L Catterton took majority stake in 2021