Levi Strauss reportedly embarking on IPO
A successful IPO would value the company at $5 billion.
Levi Strauss & Co, the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering (IPO) that would value the company at $5 billion (R71.2 billion), sources have told CNBC.
The company, which plans to raise about $600 million (R8.6 billion) to $800 million (R11.4 billion), is likely to go public in the first quarter of 2019, sources told CNBC.
The company has tapped Goldman Sachs and J.P. Morgan to manage the deal, although the timing and size of the offering could change, sources told CNBC.
A successful IPO would mean that Levi Strauss & Co would return to the public markets. The company first went public in 1971, but descendants of Levi Strauss took the company private shortly after.