London CNN —German shoemaker Birkenstock has filed for an initial public offering in New York, becoming the latest European company to choose the United States as the place to raise money on the stock market.
The Financial Times, citing unnamed sources familiar with the matter, reported Tuesday that Birkenstock was seeking a valuation of more than $8 billion.
The family business traces its origins back to 1774 when church archives mention Johannes Birkenstock, who worked as a cobbler in Langen-Bergheim, Germany.
The planned IPO marks another milestone for the shoemaker, which joins the ranks of high-profile European companies seeking a public offering across the pond rather than at home.
British chip designer Arm is gearing up for a blockbuster IPO on the Nasdaq this week.
Persons:
Birkenstock, Johannes Birkenstock, LVMH, Dior, Christian, Alex Birkenstock, Instacart, ” Craig Erlam, Susannah Streeter, Hargreaves Lansdown, “, ”
Organizations:
London CNN, US Securities and Exchange Commission, New York Stock Exchange, Financial, Tiffany, Nasdaq, CNN, Hargreaves
Locations:
New York, United States, Langen, Bergheim, Germany, British, London