Birkenstock prices IPO within range at $46 a share

Birkenstock Holding and its private equity owner priced shares in the footwear maker’s initial public offering toward the middle of a marketed range to raise $1.48 billion (€1.39 billion).

In a fourth big test of the US IPO market in a month, the German company and L Catterton sold about 32 million shares on Tuesday for $46 each after marketing them for $44 to $49, according to a statement.

At the IPO price, Birkenstock has ...