Birkenstock plans to price its shares between $44 and $49 each in its upcoming initial public offering (IPO) in New York, seeking a valuation of up to $9.2 billion, as it presses ahead with plans for its market debut.
About 32.26 million shares will be sold in the IPO by the German sandal maker and its selling stockholders to raise $1.58 billion, according to a filing with the US Securities and Exchange Commission (SEC).
An offering for Birkenstock would come on the heels of several high-profile deals, including UK-based chip designer Arm and grocery app Instacart (NASDAQ:CART).
The brand has found favour among fashion aficionados recently, after one of its brands was featured in the blockbuster hit movie 'Barbie' where actor Margot Robbie was seen donning a pair of pink Birkenstock.
Goldman Sachs (NYSE:GS), JP Morgan and Morgan Stanley (NYSE:MS) are among the underwriters for the IPO.