Levi Strauss Soars as Jeans Maker Opens for Trading

Levi Strauss & Co. (LEVI) opened for trading Thursday on the New York Stock Exchange at $22.22, sharply above its $17 a share initial public offering price. The clothing company will sell about 36.7 million shares of its Class A common stock. The IPO valued the jeans maker at $6.6 billion. At last check, the stock was trading at $22.68, up 33.4%. The company is offering 9.5 common shares and selling stockholders will offer 27.2 million shares. Reports have said the offer was more than 10 times oversubscribed. Levi Strauss filed…

Market: Lyft IPO oversubscribed on Day 2 of road show: Sources

NEW YORK: Lyft Inc’s initial public offering (IPO) is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup will fetch or even exceed the $23 billion valuation it is seeking, people familiar with the matter said on Tuesday. The development indicates that many investors are willing to overlook uncertainty over Lyft’s path to profitability and its strategy for autonomous driving, for fear of missing out on the biggest and most high-profile technology IPO since Snap Inc in 2017. Lyft started its IPO…

Embassy REIT IPO: Embassy Office Parks REIT IPO overall subscribed 2.57 times

MUMBAI: Embassy Office Parks REIT’s initial public offer, which plans to raise around Rs 4,750 crore in India’s first such listing, was oversubscribed on its last day. The issue was subscribed 2.57 times, data on the NSE showed. The quota for institutional investors was subscribed 2.15 times and non-institutional 3.10 times. The REIT, which includes Embassy Group properties and is a joint venture between the Bengaluru-based property developer and PE firm Blackstone, is offering units at Rs 299-300 per share. Ahead of the opening of the issue, the REIT had…

MSTC IPO: MSTC IPO subscribed 1.46 times on final day

New Delhi: State-owned MSTC’s initial share sale, which was extended till March 20, has been subscribed 1.46 times on Wednesday, the final day of bidding. According to data on the NSE website available till 1700 hrs on Wednesday, the IPO has received bids for 2,58,29,100 shares against the total issue size of 1,76,70,400 shares. The offer was earlier scheduled to close on Friday. In an update on the NSE on Friday, the book running lead managers (BRLM) to the MSTC issue had told the exchange that the issue closure date…

Levi’s: Denim is back: Levi Strauss IPO is getting investor ‘Likes’

By Drew Singer The Levi Strauss & Co initial public offering has got a warm reception from investors, who are being advised to place their orders above the publicly disclosed offering range, according to a person familiar with the matter. The jeans maker is offering shares at $14-16 each in an IPO that’s expected to price on Wednesday after the market closes. Raising up to $675 million, it could become the year’s largest US listing to date. A total of 36.67 million shares are being offered, with the company offering…