Levi Strauss & Co has announced that it has commenced an initial public offering (IPO) of 36,666,667 shares of its Class A common stock. The company is offering 9,466,557 shares of Class A common stock and selling stockholders are offering 27,200,110 shares of Class A common stock.
The underwriters will have a 30-day option to buy an additional 5,500,000 shares of Class A common stock from the company at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between US$ 14.00 and US$ 16.00 per share. LS&Co. has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol ‘LEVI’.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will serve as joint lead book-running managers for the offering. BofA Merrill Lynch, Morgan Stanley & Co. LLC and Evercore Group L.L.C. will serve as 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, L.P. will serve as co-managers.
A registration statement relating to these securities has been filed with the U. S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.