"Birkenstock Aims for Top-of-Range IPO Pricing"
German footwear company Birkenstock Holding is set to price its U.S. initial public offering (IPO) at the top of its indicated range, securing a $10 billion valuation. The company is expected to raise $1.58 billion at the top of its $44-to-$49-per-share range. Despite strong initial investor demand, Birkenstock is not inclined to raise its IPO price range, as recent IPOs have seen shares rally at debut but give up most gains in the following days. After the IPO, L Catterton will hold an 82.8% stake in Birkenstock.