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Michael Kors announces $900m IPO Monday, 5th December 2011
Michael Kors Holdings Ltd. has announced it plans to prepare an Initial Public Offering (IPO) in New York, with the aim of raising around USD 900 million.
The luxury fashion brand has set a price range for the offers at USD 17 to USD 19 a share, with plans to sell 41.7 million shares.
Michael Kors Holdings currently has 169 stores in North American, with another 34 in Europe and Japan. The company is now present in 74 countries, and is set to be valued at around USD 3.62 billion after its IPO.
The Hong Kong-based company intends to trade under the name of KORS on the New York Stock, according to WWD.