Levi Strauss started trading again in the U.S. after a 34-year hiatus—and the current IPO shows that investors have a strong appetite for the stock
The current IPO shows that investors have a strong appetite for the stock. The IPO was ten times oversubscribed and the company raised $623 million. The initial public offering was priced at $17 per share, higher than the initial expected range of $14 to $16, valuing the company at $6.6 billion. The fact that it was oversubscribed bodes well for the IPO market as there are several other high-profile IPOs expected to be announced later this year.
Clearly, that illustrates strong demand from investors.The key now will be to see how Levis will perform going forward. Earlier today, shares of Guess? Incorporated plunged 15% after reporting lousy earnings. Other retail and apparel stocks have been under pressure in recent years due to the changing landscape. This is just something to keep in mind as we wait and see how the stock will perform going forward.This is a big IPO and bodes well for the entire IPO market.
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Levi Strauss prices IPO at $17 a share
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