Birkenstock Prices Its Initial Public Offering of Stock Valuing the Sandal Maker at $8.64 Billion 💰

Birkenstock, the 249-year-old German manufacturer of high-end sandals, has set the price for its initial public offering, valuing the iconic brand at a substantial $8.64 billion. The IPO, priced at $46 per share, falls within the expected price range of $44 to $49 per share. The company is poised to commence trading on the New York Stock Exchange under the ticker symbol “BIRK” starting Wednesday. Birkenstock Holding Ltd. successfully raised around $495 million by selling approximately 10.8 million shares in the offering, while its existing shareholders offloaded an additional 21.5 million shares. Renowned for its distinctive yet cult-followed footwear, originally crafted by Johann Adam Birkenstock in Germany in 1774, Birkenstock’s influence even found a place in this year’s blockbuster movie “Barbie.” This marks the fourth IPO launch in the U.S. over the past month, following the footsteps of Arm Holdings, Klaviyo, and Instacart, highlighting the current vigor in the IPO market, with 71 IPOs in the U.S. last year, the lowest since 2009, according to Renaissance Capital.