Birkenstock expected to launch U.S. initial public offering (IPO)

Birkenstock logo outside a Paris shoe store

Sign outside Birkenstock shoe store in Paris, France, January 21, 2021.

NEW YORK – High-end German shoe brand Birkenstock Holding is moving forward with plans for an initial public offering next month, people familiar with the matter said, even as the looming U.S. federal government shutdown threatens to derail other companies' stock initial public offerings. said on Wednesday.

Birkenstock is confident it can get final approval from the U.S. Securities and Exchange Commission even with only essential staff on hand during a shutdown by financial regulators, sources said.

U.S. House Speaker Kevin McCarthy on Wednesday rejected a stopgap funding bill from the Senate, moving one step closer to Washington's fourth partial government shutdown in a decade with just four days remaining. .

read: Government shutdown showdown threatens U.S. government payrolls

Birkenstock still plans to launch an IPO investor roadshow next week as planned, seeking a valuation of more than $8 billion, sources said, warning that other unforeseen events could still hamper the effort. They requested anonymity because the plan is confidential.

read: Birkenstock files for U.S. IPO as listing recovery gathers pace

Birkenstock declined to comment.

SEC Chairman Gary Gensler said on Wednesday that the shutdown would reduce the agency's staffing to “skeleton” levels, preventing it from approving companies' IPO applications and weakening the agency's ability to respond to any market turbulence.

An SEC spokesman did not immediately respond to a request for comment on Birkenstock's IPO plans.

Healthcare software provider Waystar, healthcare services company Brightspring and car-sharing platform Turo are among companies that have been slower to prepare for IPOs and could be affected by the shutdown. They did not immediately respond to a request for comment.

Your subscription could not be saved. please try again.

Your subscription has been successful.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *