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- Levi Strauss & Co. is set to begin trading Thursday on the New York Stock Exchange.
- The blue-jean maker is returning to the public market after more than three decades.
- Its trading debut comes amid a host of fresh initial public offerings, as Lyft, Uber, Airbnb, and a plethora of other companies are getting set to debut.
Levi Strauss & Co., the iconic 166-year-old blue-jean maker, is set to return to the public market through an initial public offering Thursday after a three-decade absence.
The San Francisco-based company priced its IPO of nearly 36.7 milion Class A shares at $17 a share, higher than the $14-$16 that was expected. Shares will trade on the New York Stock Exchange under the ticker "LEVI."
Levi’s aims to become the second-largest clothing and accessories IPO since at least 2001, according to an IHS Markit analysis, and the oldest such company to list on a US exchange since that year.
While the company was founded in 1853, the first pair of blue jeans was invented two decades later, in 1873.
Levi’s return to the public market comes during a red-hot time for the IPO market, as companies like Lyft, Uber, Airbnb, and Pinterest are expected to debut later this year.
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Source: Business Insider – feedback@businessinsider.com (Rebecca Ungarino)