Levi Strauss Plans to Raise Up to $587 Million in IPO

(Bloomberg) -- Levi Strauss & Co. filed for an initial public offering of 36.7 million Class A shares at an offering price of $14.00 to $16.00 per share. The company is offering 9.47 million shares and selling stockholders are offering an additional 27.2 million Class A shares.

Goldman Sachs, JPMorgan BofA Merrill Lynch, Morgan Stanley, Evercore ISI, BNP Paribas, Citigroup, Guggenheim Securities, HSBC, Drexel Hamilton, Telsey Advisory and Williams Capital are underwriters and have been granted a 30-day option to buy up to an added 5.5 million shares.

Net proceeds are estimated at about $106.6 million.

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