Thursday , June 17 2021

Levi Strauss, a manufacturer of jeans, plans to become a public company again:

The jeans manufacturer Levi Strauss intends to become a public company

Photo: Reuters

Levy Levi Strauss, 145, plans to issue an initial offering, Reuters reported.

The company, which plans to raise between $ 600 million and $ 800 million, is expected to become public in the first quarter of next year, CNBC reports.

The report indicates that Levy intends to prepare for a $ 5 billion prominence on the stock exchange.

The company now refuses to comment on the news.

This will bring Levi back into the public space after nearly five decades of retirement.

For the first time the company became public in 1971, but the descendants of founder Levi Strauss, shortly afterwards, decided to return it to privacy.

In his latest quarterly reports, Levy said sales rose 10 percent to $ 1.39 billion, and net revenue grew 44 percent, mainly due to the surge in demand for retail stores and online stores.

Source link