Levi Strauss & Co. on March 20 priced its IPO of 36,666,667 class A common shares at $17 per share, above its projected price range of between $14 and $16 per share.
The price range values the maker of Levi's jeans at about $6.61 billion and would generate about $623.3 million for the company.
Levi Strauss will start trading on the New York Stock Exchange on March 21 under the ticker symbol "LEVI". It is offering 9,460,557 shares while other selling shareholders are offering the remaining 27,206,110 shares.
The company granted the underwriters a 30-day option to purchase up to an additional 5,500,000 class A ordinary shares at the initial IPO price.
The offering is expected to close March 25, subject to customary closing conditions.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as joint lead book runners for the offering, while BofA Merrill Lynch, Morgan Stanley & Co. LLC and Evercore Group LLC are the book-running managers. BNP Paribas Securities Corp., Citigroup, Guggenheim Securities LLC, HSBC Securities (USA) Inc., Drexel Hamilton LLC, Telsey Advisory Group and The Williams Capital Group LP are serving as co-managers for the IPO.