Levi Strauss & Co., the world's largest denim apparel brand, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $550 million by offering 36.7 million shares (74% secondary) at a price range of $14 to $16. At the midpoint of the proposed range, Levi Strauss & Co. would command a fully diluted market value of $6.1 billion.
Levi Strauss & Co. was founded in 1853 and booked $5.6 billion in sales for the 12 months ended November 25, 2018. It plans to list on the NYSE under the symbol LEVI. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Morgan Stanley and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of March 18, 2019.
