Wednesday , October 20 2021

Levi Strauss jeans maker plans to become a public company again ::


Jeans maker Levi Strauss plans to become a public company again

Photo: Reuters

The 145-year-old jeweler Levi Strauss & Co is planning to launch a stock market launch, Reuters reported, referring to a source familiar with the target.

The company, which plans to raise between $ 600 million and $ 800 million, is likely to be public in the first quarter of next year, CNBC reports.

The report says that Levis plans to debut on the stock exchange with an estimated $ 5 billion.

The company for now refuses to comment on the news.

This will give Levi back to the public space after almost five decades of retirement.

For the first time, the company became public in 1971, but the successor to founder Levy Strauss, shortly thereafter, decided to return to private.

In its last quarterly report, Levi said sales increased 10 percent to $ 1.39 billion and net sales rose 44 percent, mainly due to increased demand for retail jeans and online retail space.

Source link