Levi Strauss & Co. Closes Above IPO Pricing With Unexpected Investors

Dressing down Traders many in jeans work on the floor of the New York Stock Exchange on the day that Levi Strauss returned to the stock market

Levi Strauss & Co. Closes Above IPO Pricing With Unexpected Investors

The 166-year-old company, which brought America its first pair of blue jeans, previously went public in 1971, but the namesake founder's descendants, the Haas family, took it private again in 1985. "We will run this business for the long-term". That saddled the company with big debts, something which Mr Bergh said weighed down the business for years.

Some of the jean company's efforts over the past few years to solidify its connection with customers include a presence at USA festivals and and sporting events.

The company's stock will start trading Thursday on the New York Stock Exchange under the ticker symbol "LEVI".

The San Francisco-based company priced its IPO of almost 36.7 milion Class A shares at $17 a share, higher than the $14-$16 that was expected.

As of late Thursday afternoon, shares popped almost 33 percent.

Ride-hailing service provider Lyft Inc kicked off the investor road show for its market debut on Monday, while larger rival Uber is expected to go public in April.

Jeans pants are displayed at a Levi Strauss store in New York, US, March 19, 2019.

Colts sign LB Houston to 2-year, $24M deal
The only other free agent he added to the roster was former Carolina receiver Devin Funchess. "That's over and done with. His 22 sacks that season are still tied for the second-highest single-season total in league history.

The line-up also includes photo-posting app Pinterest and business messaging app Slack. The company was successful in recreating "that love for Levi's", but perhaps more importantly is to be able to sell to customers through the methods they prefer, he said.

"The market is pretty ripe and we're the first big IPO of the year", he said. It's also been opening its own stores.

The company is not only the global market leader in denim, but has successfully expanded to new categories, he said.

"The company and the underwriters targeted a reasonable valuation to start and allowed the true investor demand to dictate price which ultimately came one dollar above range".

The broader stock markets were all up less than 1 percent. In its prospectus, the company says it plans to use the proceeds from the public offering to expand more aggressively into China, India and Brazil and also build out more retail stores, which as of late past year totalled 824.

The New York Stock Exchange relaxed its strict "no jeans" policy yesterday when Levi Strauss floated for £6billion.

Latest News