Current:Home > FinanceBirkenstock set for its stock market debut as Wall Street trades in its wingtips for sandals-DB Wealth Institute B2 Expert Reviews
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandals
View Date:2024-12-23 22:27:46
NEW YORK (AP) — Birkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.
The 249-year-old German maker of upmarket sandals set a price of $46 per share for its initial public offering of stock, valuing the company at $8.64 billion.
Birkenstock is due to start trading Wednesday on the New York Stock Exchange under the “BIRK” ticker symbol. Birkenstock Holding Ltd. sold about 10.8 million shares in the offering, raising about $495 million. Its shareholders sold an additional 21.5 million shares.
The company’s footwear was first cobbled together by Johann Adam Birkenstock in Germany in 1774. The sandals have long been derided as the antithesis of high fashion but have a cult following and this year got a plug in the blockbuster film “Barbie.”
Birkenstock’s IPO will be the fourth to launch in the U.S. in the past month, following Arm Holdings, Klaviyo and Instacart. There were just 71 IPOs in the U.S. last year, the lowest number since 2009, according to Renaissance Capital.
veryGood! (7)
Related
- Lions QB Jared Goff, despite 5 interceptions, dared to become cold-blooded
- How to keep safe from rip currents: Key facts about the fast-moving dangers that kill 100 Americans a year
- 7 fun facts about sweat
- Princess Charlotte Is a Royally Perfect Big Sister to Prince Louis at King Charles III's Coronation
- In an AP interview, the next Los Angeles DA says he’ll go after low-level nonviolent crimes
- Today’s Climate: June 16, 2010
- The Summer I Turned Pretty Season 2 Finally Has a Release Date
- Flash Deal: Save $261 on a Fitnation Foldable Treadmill Bundle
- Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion
- As ‘Epic Winds’ Drive California Fires, Climate Change Fuels the Risk
Ranking
- What is prize money for NBA Cup in-season tournament? Players get boost in 2024
- Calif. Lawmakers Rush to Address Methane Leak’s Dangers
- Snowpack Near Record Lows Spells Trouble for Western Water Supplies
- Today’s Climate: June 7, 2010
- Bridgerton's Luke Newton Details His Physical Transformation for Season 3's Leading Role
- With early Alzheimer's in the family, these sisters decided to test for the gene
- Here's what the FDA says contributed to the baby formula shortage crisis
- Encore: A new hard hat could help protect workers from on-the-job brain injuries
Recommendation
-
Rare Alo Yoga Flash Sale: Don’t Miss 60% Off Deals With Styles as Low as $5
-
Why were the sun and moon red Tuesday? Wildfire smoke — here's how it recolors the skies
-
2016: When Climate Activists Aim to Halt Federal Coal Leases
-
Real Housewives Star Lisa Barlow’s Mother's Day Amazon Picks Will Make Mom Feel Baby Gorgeous
-
'Survivor' 47, Episode 9: Jeff Probst gave players another shocking twist. Who went home?
-
Why King Charles III Didn’t Sing British National Anthem During His Coronation
-
Global Programs Are Growing the Next Generation of Eco-Cities
-
Today’s Climate: June 17, 2010