Kors, A US Clothing Company, Raised $944 Million In IPO Pactions.
Beijing time December 15th evening news, the United States
clothing
Michael Kors Holdings, a design company, raised $944 million through IPO (initial public offering) trading, which was 19% higher than its previous target, because the company's final IPO price exceeded the market price range.
According to a statement released yesterday by Michael Kors, the company has a $20 share.
Price
47 million 200 thousand shares were sold.
shares
Previously, the company represented 41 million 700 thousand shareholders on behalf of its existing shareholders at a price of $17 to $19 A share.
The Michael Kors stock will start trading on the New York Stock Exchange (NYSE) today, with the stock code as "KORS". "Kors"
Morgan Stanley (MS), Morgan chase (JPM) and GS (Goldman Sachs Group) are the underwriters of the company's IPO paction.
Michael Kors said in its previously submitted regulatory document that its sales in the first half of this year increased by more than 60% over the same period last year, and said it plans to double its retail sales in the long term.
Steven Dennis, founder of Sageberry Consulting LLC, a luxury consultancy, said Michael Kors, founded in 1981, has the chance to get the authorization of Kors brand from Consulting.
Denis pointed out: "this is a very reliable company, and its growth has been quite good.
The company will have a lot of growth opportunities in the future.
Michael Kors, the founder of Michael Kors, is the largest individual investor in the company. He plans to reduce the share of the company's shares from around 12% to 8.6%.
In addition, Sportswear Holdings, the largest shareholder of Michael Kors, plans to reduce its shareholdings from 52% to 38%, and John Kors, chief executive of Michael Kors, plans to reduce its shareholding to 5.1%.
Kors Holdings does not plan to sell any shares in the IPO paction.
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