Birkenstock files for its IPO

Details: Birkenstock, founded nearly 250 years ago and now controlled by private equity firm L Catterton, plans to list under ticker "BIRK," with Renaissance Capital estimating that it could raise around $750 million.

• It reports $40 million of net income on €644 million in revenue for the six months ending March 31, 2023, compared to €73 million profit €542 million in revenue for the year-earlier period.
• The company has €172 million of cash as of March 31, and €2.3 billion in debt.

More, per Bloomberg: "A listing would cap off a successful run for the company, whose family heirs stepped back from management duties about a decade ago. Since then, it's streamlined strategy, launched high-profile collaborations and experienced explosive growth in demand."