Wednesday 24 April 2019
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business-standard - 1 month ago

One more time: Levi Strauss goes public again

Levi Strauss Co, which gave America its first pair of blue jeans, is public for the second time. The stock, which is listed under the ticker LEVI, opened for trading on Thursday up 31 per cent on very strong demand and recently changed hands at USD 22.90, up USD 5.90. The offering priced at USD 17, above an originally expected range of USD 14 to USD 16. As of noon, shares were up nearly 34 per cent. In a rare move, the New York Stock Exchange suspended its no jeans policy on Thursday to commemorate the event, transforming the floor from suits and ties into a sea of blue denim, with its traders sporting jeans and denim jackets. More than 120 employees from Levi s global offices, including its CEO Chip Bergh outfitted in denim, were on the trading floor. On Wednesday, the NYSE even Tweeted, Tomorrow we ll be in our 501s. The 166-year-old company, which owns the Dockers and Denizen brands, previously went public in 1971, but the namesake founder s descendants, the Haas ...

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