The German shoe supplier Birkenstock published concrete details on Monday of its IPO announced in September. Accordingly, the company wants to offer a total of almost 32.3 million shares of the parent company Birkenstock Holding Limited as part of the IPO.
The offer range for the shares is between 44.00 and 49.00 US dollars, according to a statement to the US Securities and Exchange Commission (SEC). The IPO could therefore raise a total of up to 1.58 billion US dollars (1.50 billion euros). The total value of the company would be estimated at up to 9.2 billion US dollars.
L Catterton retains more than 80 percent of the shares
According to the company, Birkenstock itself is offering almost 10.8 million shares, with the current owner L Catterton contributing around 21.5 million. The investment company also offers future share buyers an option for a total of up to 4.8 million additional Birkenstock shares.
According to the plans, L Catterton will hold more than 80 percent of the shares in Birkenstock even after the IPO. The financial company, which manages the investment business of the LVMH founding Arnault family, secured a majority stake in the traditional German company in spring 2021.