Denim is back: Levi Strauss IPO is getting investor 'Likes'

By Drew Singer

The Levi Strauss & Co initial public offering has got a warm reception from investors, who are being advised to place their orders above the publicly disclosed offering range, according to a person familiar with the matter.

The jeans maker is offering shares at $14-16 each in an IPO that’s expected to price on Wednesday after the market closes.


Raising up to $675 million, it could become the year’s largest US listing to date. A total of 36.67 million shares are being offered, with the company offering 9.47 million of those and the remainder coming from existing holders.

A spokesperson for the company declined to comment. Bloomberg Intelligence on Tuesday called the IPO valuation "too skinny", given Levi’s prospects for apparel-share gains, as denim makes a comeback.