Levi Strauss returns to the IPO market
The world-famous jeans manufacturer Levi Strauss & Co has submitted an application to place its shares on the New York Stock Exchange. The company, which has already turned 145 years old, plans to return to the public markets after more than three decades in order to attract additional assets. Levi Strauss & Co first went public in 1971, but in 1984, the descendants of its founder, Levi Strauss, bought the company into private ownership. Now Levi's intend to place shares in the amount of about $ 100 million. In the general list, these shares will be marked "LEVI". The amount of the placed capital specified in the preliminary applications is used to calculate registration fees. The final data may be different.
In its latest quarterly report, the company reported that its sales increased by almost 9% to $1.59 billion. Levi Strauss sells its products in more than 50,000 outlets, including about 3,000 individual stores and corners. The largest shareholders of the company today are Mimi Haas and Margaret Haas, descendants of Levi Strauss.
Insurance and investment support for the exit of Levi Strauss& Co for the IPO is provided by a 12-member board, including such "titans" as Goldman Sachs, JPMorgan, BofA Merrill Lynch and Morgan Stanley.