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Levi Strauss prepares to float

US denim giant Levi Strauss is said to be considering raising up to $800m (£623m) through a public listing.

US news network CNBC reported that the maker of the first pair of jeans is looking to raise between $600m  and $800m (£467m-£623m) with a flotation scheduled for the first quarter of 2019.

The 145-year-old business is targeting an initial valuation of $5bn (£3.9bn) and is thought to be preparing the flotation with investment banks Goldman Sachs and JP Morgan.

At present, the business is privately owned by decedents of the original Levi Strauss family, although the company’s Japanese affiliate Levi Strauss KK is publicly traded in Tokyo.

In October, Levi Strauss reported revenues of $1.4bn (£1.09bn) for the three months to 26 August, up 10% year on year. Profits also rose by 45% to $130m (£101.3m) for the period.


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