There is now another way to invest in your favorite denim company, Levi Strauss & Co., beyond just buying another pair of jeans. Investors are now able to purchase shares for the company.
Levi Strauss & Co.
The company is named after its founder, Levi Strauss, who was an American-German businessman. His first store, Levi Strauss & Co, began in 1847 and is now one of the most bought from brands of jeans in the world. It was the first company to manufacture blue jeans.
New York Stock Exchange
Levi Strauss & Co. is expected to list up to 37 million shares on the New York Stock Exchange, where trading begins this upcoming Thursday, March 21st, 2019. The share is under the symbol LEVI. They are expected to cost between $14 and $16 per share.
From Private to Public
For the last 34 years, Levi Strauss & Co. has been a privately held company. Selling shares on the New York Stock Exchange is their first initial public offering since 1985, only being its third one in the company’s 166 years of existence. The initial public offering allows the founder’s descendants to cash-out parts of their holdings while still maintaining control. The IPO is going to allow Levi Strauss & Co. to have more funds to invest in its company, especially its employees, with expected higher compensations to come about.
Levi Strauss’ Family
Most of Strauss’ family is no longer involved in managing Levi Strauss & Co., as they have transitioned to professional managers. The initial public offering is expected to bring the family in almost $317 million in proceeds.