Denim giant Levi Strauss & Co has filed documents stating its intention to list itself on the New York Stock Exchange in what will be a highly-anticipated initial public offering (IPO).
The company, which plans to list as ‘LEVI’ set a placeholder amount of US$100m to calculate fees but said in a statement yesterday (13 February) the number of shares to be offered and the price range for the proposed offering have not yet been determined.
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Reports toward the end of 2018 claimed Levi Strauss was looking to raise between $600m-$800m and was targeting the first quarter of 2019 to go public. Meanwhile, a report published by CNBC in November said the company was aiming to debut with a valuation upward of $5bn.
The San Francisco-based company said Goldman Sachs, JP Morgan, BofA Merrill Lynch, and Morgan Stanley are among the 12-member team handling the IPO.
Earlier this month, Levi Strauss reported revenue of $5.58bn and net income of $283.1m for the year ended 28 November 2018.
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