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.
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.