Oct 10, 2023 - Economy

Birkenstock to price IPO at $46 per share

Richard Collings

an illustration of a shoebox filled with dollar bills — Illustration: Tiffany Herring/Axios

Birkenstock, the German sandal maker, priced its IPO at $46 per share, the company announced.

Why it matters: Despite creeping cautiousness in an uncertain market, companies from all sectors continue to try their hand at going public.

Details: At that price, the company would have a market cap of about $8.6 billion and raise nearly $1.5 billion.

It is expected to begin trading tomorrow morning.

Catch up fast: The company and its PE owner L Catterton planned to unload about 32 million shares between a price range of $44 and $49 under the ticker "BIRK," according to SEC filings.

Birkenstock was founded nearly 250 years ago.
It reported $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 had €172 million of cash as of March 31, and €2.3 billion in debt.

This article has been updated with information from Birkenstock.

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Birkenstock to price IPO at $46 per share

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