Posted 10/12/2023, 11:50:19 AM
Birkenstock Shares Slip in Lackluster IPO Debut Amid Investor Reluctance Towards New Listings
- Birkenstock slips 12.6% in its stock market debut on the NYSE, opening at $41 vs IPO price of $46
- Lackluster debut reflects investor reluctance towards IPOs amid macro uncertainty
- Birkenstock IPO raised $1.48B, selling 10.8M shares along with stakeholder L Catterton's 21.5M shares
- Birkenstock was family-controlled until 2021 when L Catterton bought majority stake for $4.85B
- Several recent IPOs have lost steam post-listing as investors wary of new listings due to high rates
