17:42 23 March 2019
Levi Strauss returns to stock market, shares soar
Levi Strauss return to the public market came with the enthusiastic reaction of investors. The stock opened for trading at $22.22 on Thursday, above the offering price of $17. At closing the shares traded at $22.41; that gave Levi's a market value of $8.64 billion, according to FactSet.
The company plans to use part of the funds raised in the initial public offering to business development on markets such as Brazil, China, and India. Levi Strauss previously went public in 1971 for $1.6 billion, however, 14 years later Haas family made it private.
