The Levi Strauss IPO is going well for the company with LEVI stock heading higher on Thursday.
Levi Strauss (NYSE:LEVI) started its IPO on Wednesday with shares of LEVI stock selling at $17.00 each. Now LEVI shares are up 34% and are sitting at almost $23 per share as of noon Thursday.
The Levi Strauss IPO has the company selling 36,666,667 shares of LEVI stock. 9,460,557 of these shares are coming directly from the company. The remaining 27,206,110 shares in the IPO are from other stockholders.
Underwriters of the Levi Strauss IPO also have the ability to purchase additional shares of LEVI stock. This option allows them to purchase an additional 5,500,000 shares of LEVI stock at its IPO of price of $17.00. Underwriters have 30 days to take advantage of this offer.
Goldman Sachs and J.P. Morgan are the lead book runners for the Levi Strauss IPO. BofA Merrill Lynch, Morgan Stanley and Evercore Group are also serving as book-runner managers for the IPO. There are also several other co-managers for the IPO.
The Levi Strauss IPO started on March 20 and will be lasting through March 25. The company is trading on the New York Stock Exchange under the stock ticker “LEVI.”
Levi Strauss is an American clothing company. It’s main product offerings include its denim jeans. The company was founded way back in 1853 and its headquarters is located in San Francisco, Calif.
As of this writing, William White did not hold a position in any of the aforementioned securities.