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In this photo illustration Levi’s 501 blue jeans by U.S. clothing manufacturer Levi Strauss are seen on March 8, 2018 in Berlin, Germany.
Blue jeans giant Levi Strauss & Co.’s Thursday initial public offering is more than 10 times oversubscribed, sources familiar tell CNBC.
The world’s largest jeans seller is expected to list nearly 37 million shares on the New York Stock Exchange at a price between $14 and $16 under the symbol LEVI.
The sources said it was likely to price above that range, but the situation is still fluid and dependent on market conditions.
Members of the Haas family will sell more than 21 million shares in the IPO. At $15 a share, the midpoint of the expected range, the value of the family’s collective proceeds would be nearly $317 million.
The 166-year-old company first went public in 1971, but has been private for the last 34 years. Levi declined to comment on the offering demand.
This story is developing. Please check back for updates.
— With reporting by
Courtney Reagan
.
