// Levi Strauss confirms plans to list on the stock market at NYSE
// Denim retail giant yesterday filed documents stating its intention to launch an IPO
// Could make the company valued up to $5bn (£3.9bn).
Levi Strauss & Co has filed documents that indicated its intent to be listed on the New York Stock Exchange, as it seeks to return to public markets for the first time in three decades.
The 145-year-old denim maker and retailer, commonly known as Levi’s, said in its documents that it intended to list as “LEVI”.
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It also set a placeholder amount of $100 million (£78 million) to indicate the size of the IPO.
However, the the final size of the IPO could end up being different.
According to CNBC reports in November, Levi’s could be valued at around $5 billion (£3.89 billion) when it debuts on the stock market.
Levi’s Japanese arm Levi Strauss KK is already publicly listed in Tokyo, which is why the company already posts quarterly earnings reports.
San Francisco-based Levi’s, which is still controlled by the descendents of founder Levi Strauss, has faced changes in consumer behaviour in recent years as people opt for cheaper denim brands or athleisure apparel.
Levi’s sells its products in more than 50,000 retail locations, including about 3000 standalone stores and concessions across 110 countries.
Goldman Sachs, JPMorgan, Bank of America Merrill Lynch, and Morgan Stanley are part of a 12-member underwriting team handling Levi’s IPO.
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