Birkenstock will be valued at just under $9 billion as the sandal maker gets ready to make its stock-market debut via an IPO

Birkenstock will be valued at just under $9 billion as the sandal maker gets ready to make its stock-market debut via an IPO

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A Birkenstock shoe in "Barbie."

A Birkenstock shoe in “Barbie.”Warner Bros.

  • Birkenstock priced its IPO at $46 a share Tuesday.

  • The sandal maker is set to debut on the New York Stock Exchange Wednesday at an $8.6 billion valuation.

  • It’s the latest test for the IPO market after Arm, Klaviyo, and Instacart all listed last month.

Birkenstock is set to make its stock-market debut Wednesday, listing via an IPO that values the company at $8.6 billion.

The German sandal maker said Tuesday that it would price its shares at $46, in the middle of the $44 to $49 range it had announced last week.

Over 32 million shares will be on sale in an offering that could raise just under $1.5 billion, by Insider’s calculations.

Birkenstock will trade on the New York Stock Exchange under the ticker “BIRK”.

Arm, Instacart, and Klaviyo all enjoyed successful debuts in September but have traded mixed since, with analysts warning that they won’t revive the long-dormant IPO market overnight.

Startups and established companies alike have shied away from listing on stock exchanges in an environment where the Federal Reserve’s aggressive interest-rate hikes have made it much tougher to achieve growth.

Birkenstock has made a recent push to establish itself as a premium fashion item worn by celebrities, with Margot Robbie wearing a pink pair of the German brand’s sandals in the final scene of the summer blockbuster hit “Barbie”.

Its bosses will be hoping for a better start to life on the stock-market than fellow shoemakers Dr. Martens and Allbirds, both of which have seen their share prices plummet since debuting via IPO in 2021.

Read the original article on Business Insider

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