After enjoying booming demand for its iconic sandals and broad range of footwear, the German company has filed to list on US markets and is said to seek a $9.2 billion valuation on its initial public offering (IPO) on the New York Stock Exchange.
Birkenstocks announced their plans to list shares in New York in the region of $44–$49 per share, which is expected to raise around $1.6 billion for Birkenstock and their private equity owner, U.S.-based company L Catterton.
L Catterton will have around a 83% stake in the company after the IPO.
Birkenstocks said most of the proceeds will go to repaying its current debt and has no plans to pay a dividend in the near term.
Birkenstock generated €1,242.8 million in revenue in fiscal 2022, up from €727.9 million in 2020.
Birkenstock’s IPO will follow major IPOs by ARM Holdings and Instacart in recent weeks as capital markets fire up after months of next to no activity.
Joint book runners for the IPO include Goldman Sachs, JP Morgan and Morgan Stanley.