Birkenstock plans for New York IPO with valuation of up to $9.2bn

(Sharecast News) - German premium footwear company Birkenstock announced on Monday its plans for a New York initial public offering (IPO) with a target valuation of up to $9.2bn, according to a report from CNBC. The company, backed by private equity firm L Catterton, said in a filing with the US Securities and Exchange Commission (SED) that in a bid to raise $1.58bn, it intended to offer around 32.26 million shares at a price between $44 and $49.

Birkenstock has traditionally emphasised comfort and functionality over style in its shoes and has seen a rise in popularity as a fashion footwear brand in recent years.

Founded in 1774, Birkenstock is a sixth-generation family enterprise, with most production still taking place in the German states of Rhineland-Palatinate and Saxony.

CNBC said Goldman Sachs, JPMorgan and Morgan Stanley were set to underwrite the IPO.

Reporting by Josh White for Sharecast.com.