Levi Strauss shares jump 35% from IPO pricing level in NYSE debut
Levi Strauss & Co. is a publicly-traded company again, with shares opening at $22.22, 31% above the anticipated IPO price and reaching as high as 35% above the IPO price within minutes. The New York Stock Exchange helped celebrate the denim icon's first trading day by suspending its "no jeans" policy on the trading floor, with traders wearing Levi's instead. In fiscal 2018, Levi's net revenue was $5.6 billion, up 13% from the previous year.
U.S. stocks opened lower on Thursday but soon cut early losses, as investors digest the Federal Reserve's downgrade of the domestic economic outlook for 2019, citing sluggish global expansion. As expected, the central bank kept its key rate at a range of 2.25% and 2.50%, but a more dovish policy stance than investors has undercut the buying appetite on Wall Street. The Dow Jones Industrial Average was virtually unchanged at 25,745, the S&P 500 index added 0.
Levi’s will begin its life as a public company today and more IPOs are coming soon. Ford is investing more in electric vehicles, but it isn't the only auto maker planning for an electric future. Also in focus are results from China’s Tencent, and the Fed’s message about the economy.Get the market numbers you need to start your day with Barron’s audio news briefing.Levi Strauss to offer 36.
Levi Strauss & Co. set terms for its planned initial public offering on Monday, saying in a regulatory filing that it plans to offer 36.7 million shares priced at $14 to $16 each. The denim jeans company would raise $550.5 million at the midpoint of that range. There are 12 banks underwriting the deal, led by Goldman Sachs and JPMorgan.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Levi Strauss valued at $6.6 billion as IPO prices above targetLevi Strauss & Co fetched a higher price than expected in its initial public off...
Weiterlesen »
Levi Strauss valued at $6.6 billion as IPO prices above targetLevi Strauss & Co is coming back to the stock market after more than three decades with a valuation of $6.6 billion $LEVI
Weiterlesen »
Levi Strauss prices IPO at $17 a share
Weiterlesen »
Levi Strauss shares open at $22.22 in IPO, as jean giant makes return to the public marketBlue jeans giant Levi Strauss & Co began trading on the New York Stock Exchange at $22.22 a share, after having priced its initial public offering at $17 a share the night prior.
Weiterlesen »
Levi Strauss, Valued At $6.6 Billion, Is Making A Comeback As A Public CompanyThe 165-year-old company that invented blue jeans still makes most of its money from men’s pants, but that's changing.
Weiterlesen »
Here comes Levi Strauss...Levi Strauss is returning to the public market Thursday with an initial public offering on the new York Stock Exchange.
Weiterlesen »
Levi Strauss IPO comes as denim market braces for year of corporate shakeupsLevi Strauss is expected to begin trading on Thursday. The move comes as its next closest U.S. competitors, VF Corp and Gap Inc., plan corporate shake-ups of their own and customers shift their shopping habits.
Weiterlesen »
Here's why Levi Strauss, the world's biggest denim brand, is going publicFor the first time in more than three decades, investors can buy shares of Levi Strauss & Co., the world's biggest jeans seller.
Weiterlesen »
Dow futures lower | FBI aides Boeing probe | Levi Strauss trading setFutures are pointing to a lower open for the Dow and S&P 500 ahead of the Thursday session, with investors still trying to digest the implications of yesterday's Fed meeting.
Weiterlesen »
Guess shares tumble on earnings shortfall as Levi Strauss IPO loomsShares of clothing company Guess tanked nearly 14 percent in the premarket Thursday after reporting earnings that missed analyst expectations.
Weiterlesen »