Birkenstock files for IPO

Birkenstock has filed for an initial public offering (IPO) on the New York stock exchange (NYSE).

The German shoemaker’s filing with the Securities and Exchange Commission (SEC) did not disclose the IPO’s price per ordinary share.

The filing revealed that Birkenstock’s revenues for the six months to 31 March rose by almost 20 per cent to around $644 million compared with around $543 million for the same period last year.

The filing also showed that net profit (loss) fell to around $40 million from $73 million in the previous year.

Reporting on its financial condition, Birkenstock said the Covid-19 pandemic “has had, and could have, an adverse effect on us”.

A statement from the company said: “The extent to which Covid-19 will impact our business and operating results during 2023 and beyond will depend on future developments, including the duration, continued spread and future outbreaks of Covid-19, the availability, adoption and effectiveness of vaccines and other preventative therapies and the impact on our consumers and employees, as well as the global economy, all of which are highly uncertain and cannot be predicted.”

The news follows Cambridge-based chipmaker Arm’s ambitions to launches its own IPO on the NYSE at a valuation of “up to $70 billion”.

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