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Jeans giant Levi Strauss & Co is keeping tight-lipped regarding rumours the US firm is planning an initial public offering.

The company is reportedly looking to raise between US$600m-$800m and is targeting the first quarter of 2019 to go public. It is aiming to debut with a valuation upward of $5bn, according to a report published by CNBC yesterday (14 November).

The San Francisco-based company has tapped Goldman Sachs and J.P. Morgan to manage the deal, although the timing and size of the offering could change, sources told CNBC.

In a statement, a Levi Strauss spokesperson told just-style that “as a matter of company policy, we do not comment on marketplace rumours or speculation”.

The company recently announced its fourth consecutive quarter of double-digit revenue growth, which CEO Chip Bergh said was broad-based across virtually every part of the business, including all four brands, and all regions and channels.

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By GlobalData