Levi Strauss plans to raise $100M in initial public offering

14 Février, 2019, 07:38 | Auteur: Auguste Feret
  • Levi Strauss files for IPO, seeks listing on NYSE under 'LEVI'

The label of a Levi's denim jacket of US company Levi Strauss is photographed at a denim store in Frankfurt, Germany, March 20, 2016.

According to its SEC filing, the San Francisco-based company plans to raise $100 million through the IPO, a placeholder amount used to calculate fees, but CNBC's Leslie Picker previously reported that the company is aiming to raise between $600 million and $800 million. The company has been doing well in recent years. It was a public company from 1971 until 1985, when it was taken private in a leveraged buyout.

In its fiscal year ended last November, revenue rose almost 14 percent to $5.6 billion, and the company earned $283.1 million, or 73 cents per share.

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Levi Strauss sells in products in over 50,000 retail locations, including about 3,000 standalone stores and shops-in-shops.

Other apparel makers, including American Eagle Outfitters Inc. and Abercrombie & Fitch Co., fell on the news.

With Levi's IPO filing, the company joins a list of high-profile companies seeking to go public this year including ride-hailing companies Uber Technologies and Lyft, photo-posting app firm Pinterest and home-renting company Airbnb. The deal will be led by Goldman Sachs and JPMorgan, and underwritten by a total of 12 banks.

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