FILE - In this Feb. 9, 2018 photo Levi's jeans hang on a wall at Levi's innovation lab in San Francisco. Well-known jeans company Levi Strauss says it plans to raise up to $587 million through an initial public offering. The San Francisco-based company said Monday, March 11, 2019, that it’s offering approximately 9.5 million shares, while selling stockholders are offering about 27.2 million shares. (AP Photo/Jeff Chiu, File)

Levi Strauss plans to raise up to $587M in IPO

By The Associated Press March 11, 2019 at 4:32am

SAN FRANCISCO (AP) — Levi Strauss plans to raise up to $587 million in an initial public offering of company shares.

The San Francisco company said Monday that it’s offering approximately 9.5 million shares, while selling stockholders are offering about 27.2 million shares.

The stock is expected to be priced between $14 and $16 each.

The underwriters will have a 30-day option to buy an additional 5.5 million shares from the company at the IPO price, minus underwriting discounts and commissions.

The shares are expected to be listed on the New York Stock Exchange under the “LEVI” symbol.

Levi Strauss & Co. made its first pair of jeans in 1873. The company did go public before, on 1971, but was taken private again in a 1985 leveraged buyout.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Submit a Correction →

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:

WJ Wire

The Associated Press

SummaryMore Biographical InformationRecent PostsContact

The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter

@AP

Facebook

The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.

Location

New York City