Levi’s parent company, Levi Strauss & Co., said on Monday that it expects to raise about $587 million through an IPO to boost its valuation to about $6.2 billion, which will make the group’s market capitalization higher than other competitors, such as American Eagle Outfitters, which is similar to Levi’s, with a market capitalization of $3.7 billion and Urban Outfitters with a market capitalization of about $3.2 billion.
Levi Strauss plans to sell 36.7 million shares in the IPO at a price of between $14 and $16 per share, raising $550.5 million at the midpoint of the offering price range. It is noteworthy that the Group also disclosed in the submission that the funds will be acquired, but did not specify the specific target of the acquisition.
In February this year, Levi Strauss filed an IPO application with the New York Stock Exchange 48 years later, using “LEVI” as the stock code for public offering. The industry believes that the R&D strength of Levi Strauss will increase after the listing, which will aggravate the fierce competition among the head of the jeans industry. On the day of the release of the listing documents, the shares of several jeans apparel companies generally fell, with American Eagle Outfitters falling 1.44% and Lee’s parent company VF Group falling 0.18%.