Date
12 December 2018
Levi Strauss & Co. is aiming to debut with a valuation of about US$5 billion, CNBC said. Photo: Bloomberg
Levi Strauss & Co. is aiming to debut with a valuation of about US$5 billion, CNBC said. Photo: Bloomberg

Levi Strauss seeks to raise up to US$800 million in IPO: report

Levi Strauss & Co., the 145-year-old company that made the first pair of blue jeans, is planning an initial public offering, CNBC reports, citing sources familiar with the matter.

The company, which plans to raise about US$600 million to US$800 million, is likely to go public in the first quarter of 2019, the sources told business news channel.

The maker of Levi’s jeans is aiming to debut with a valuation of about US$5 billion, the report said.

Levi Strauss said it does not comment on marketplace rumors or speculation.

This could be the company’s return to the public markets, nearly five decades after going private.

It first went public in 1971, but descendants of Levi Strauss, the creator of the blue jeans, took the company private shortly after.

In its latest quarterly report, the company said sales rose 10 percent to US$1.39 billion and net income jumped 44 percent, mainly due to demand for its jeans at both retail stores and online.

The San Francisco-based company has tapped Goldman Sachs and JP Morgan to manage the deal, CNBC said, citing the sources. Reuters

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