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Birkenstock IPO Debut Deemed Lackluster
- Reuters, Thursday, October 12, 2023 9:07 AM
Birkenstock's stock ended more than 12% below its initial public offering price on Wednesday in an underwhelming Wall Street debut that signaled investors remain cautious about new listings, according to Reuters. Shares of the 250-year-old German sandal maker started trading at $41 after the IPO had priced at $46. That offering raised $1.48 billion, priced at the midpoint of the indicated range of $44 and $49 on Tuesday.
