Birkenstock sets IPO price ahead of NYSE listing

German footwear specialist Birkenstock has set the price for its initial public offering (IPO) at around the middle of its previously announced guidance.

The company has set a price of 46 dollars per share, according to a report Tuesday by the Wall Street Journal. Birkenstock previously set a price range of between 44 dollars and 49 dollars.

This price would value the business at around 8.6 billion dollars (8.1 billion euros).

Birkenstock will start trading on the New York Stock Exchange on Wednesday under the ticker symbol ‘Birk’.

Plans for its IPO were confirmed early in September when the company said it had publicly filed a registration statement on Form F-1 with the US Securities and Exchange Commission (SEC).

The announcement confirmed media speculation that majority shareholder L Catterton was mulling a move to take the company public.