Published on 11 Oct 2023 on Fox Business via Yahoo Finance
LVMH loves Birkenstock as IPO kicks off
Birkenstock shares debuted on the New York Stock Exchange Wednesday as part of the initial public offering (IPO) previously announced by the German sandal maker with ties to luxury goods company LVMH and its founder.
The stock opened at $41 per share, below the $46 offer price determined Tuesday. Its IPO will include some 32.2 million ordinary shares.
The company first officially disclosed its IPO plans back in mid-September, when it submitted a preliminary prospectus with the Securities and Exchange Commission. It will use "BIRK" as the ticker for its stock.