Michael Kors, a global luxury lifestyle brand with a presence in 74 countries, raised a greater-than-expected $944 million by offering 47.2 million shares at $20, above the range of $17 to $19. All shares were sold by existing shareholders. The company had originally filed to sell 41.7 million shares. At the $20 offer price, Michael Kors will command a market value of $4.1 billion. Michael Kors will list on the NYSE under the symbol KORS. Morgan Stanley, J.P. Morgan and Goldman, Sachs & Co. acted as lead managers on the deal.
