Levi Strauss & Co shares surge 30% in IPO

Shares of Levi Strauss & Co surged 30% on debut on the New York Stock Exchange at $22.22 a share as against the company’s IPO price of $17.

The closing of the offering is expected to occur on March 25, 2019, subject to satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as joint lead book-running managers for the offering. BofA Merrill Lynch, Morgan Stanley & Co. LLC and Evercore Group L.L.C. are serving as book-running managers. BNP Paribas Securities Corp., Citigroup, Guggenheim Securities, LLC, HSBC Securities (USA) Inc., Drexel Hamilton, LLC, Telsey Advisory Group, and The Williams Capital Group, L.P. are serving as co-managers.

Levi Strauss & Co. designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s, Dockers, Signature by Levi Strauss & Co., and Denizen brands.Its products are sold in more than 110 countries worldwide through a combination of chain retailers,department stores, online sites, and a global footprint of approximately 3,000 brand-dedicated retail stores and shop-in-shops.

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