Levi Strauss & Co.’s (NYSE:LEVI) is betting it can convince investors there is still room for global growth left for the 165-year old company, but managed money see the iconic US blue jeans maker’s stock may be too pricey to generate a decent return.
The San Francisco-based company returned to the public markets Thursday for the 1st time since it went private through a leveraged buyout in Y 1985 with a stock debut that sold $587% worth of shares and gave it a market value of more than $8.7-B.
In its prospectus, Levi’s said it plans to expand its women’s clothing line and grow in markets such as China, which represented just 3% of its net sales in Y 2018.
The company’s IPO was priced at 17/share, and the shares (LEVI) closed up 5.41 at 22.41 on the day.
We here at HeffX-LTN see it a mature company that already has broad distribution and its customer base is shrinking because department stores are shrinking.
Latest posts by HEFFX (see all)
- Tesla Is Hiring Someone To Defend Elon Musk And Fend Off Attacks By Twitter Trolls - January 20, 2021
- PayPal Will Continue To Profit From A Huge Increase In Volume And Accounts - January 20, 2021
- Google’s Ethical AI Division Investigating Sharing of Sensitive Documents - January 20, 2021