Deal is expected to price later Tuesday, coming at a time of weak aftermarket performance by recent deals
The initial-public-offering market is gearing up for the arrival of the Birkenstock deal, with the iconic German sandal maker expected to price its stock later Tuesday for a Wednesday debut.
The company has applied to be listed on the New York Stock Exchange under the ticker symbol “BIRK.” Goldman Sachs, JPMorgan and Morgan Stanley are the lead underwriters in a team of 22 banks working on the deal. Underwriters have the option to purchase up to 4.8 million more shares from the selling shareholders to cover overallotments.
Even before the current hostilities in Israel broke out, the market had seen three key deals lose some of their luster in the days immediately following their debuts. Read now: Birkenstock’s valuation is too high and investors may not make money in its IPO, analyst says
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