Levi Strauss Plans To Raise $587 Mn With IPO

Brand jeans maker Levi Strauss & Co said that the company plans to raise up to USD587 million in an initial public offering (IPO) which would expect its return to the public market after three decades.

The San Francisco based Company is offering 9.5-million shares approx, while selling stockholders are offering about 27.2-million shares. The stock is expected to be priced between USD14 and USD16 each.

The shares are expected to list on NewYork Stock Exchange under the brand symbol LEVI.

The twelve-member underwriting team managing the IPO includes JPMorgan, Goldman Sachs, Morgan Stanley and BofA Merrill Lynch.

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