Levi Strauss Raises $623 Million in U.S. IPO
Levi Strauss Raises $623 Million in U.S. IPO
(Bloomberg) -- Levis Strauss & Co. raised $623.3 million in its U.S. initial public offering, pricing shares above the marketed range.
The iconic blue jeans maker sold 36.7 million shares at $17 apiece Wednesday, according to a statement. It had marketed them for $14 to $16 apiece. The stock will start trading March 21 on the New York Stock Exchange under the ticker “LEVI.”
The offering, which comes more than 145 years after Levi Strauss patented the first pair of blue jeans, values Levi Strauss at $6.55 billion, based on the number of shares outstanding after the IPO.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. led the sale.
To contact the reporter on this story: Olivia Zaleski in San Francisco at ozaleski@bloomberg.net
To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, Michael Hytha
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