Tuesday , May 30 2023

Levi Strauss jeans manufacturer plans to become public company again :: Investor.bg


Levi Strauss plans to become a public company again

Photo: Reuters

The 145-year-old goldsmith producer Levi Strauss & Co is planning to launch the IPO, Reuters said, citing sources familiar with this case.

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

The report says Levi will plan to debut at the stock exchange with about $ 5 billion.

The company now refuses to comment on the news.

This will bring Levi back to public space after nearly five decades of retirement.

For the first time, the company became public in 1971, but descendants of the founder of Levi Strauss, shortly thereafter, decided to return it privately.

In his latest quarterly report, Levi said sales rose 10% to $ 1.39 billion, and net revenue grew by 44 percent, mainly due to increased demand for farmers in retail and online stores.

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