Levi Strauss is planning to go public: CNBC

Business

FILE PHOTO – The label of a Levi’s denim jacket of U.S. company Levi Strauss is photographed at a denim store in Frankfurt, Germany, March 20, 2016. REUTERS/Kai Pfaffenbach

(Reuters) – Apparel maker Levi Strauss & Co is planning an initial public offering, CNBC reported cnb.cx/2zSjbDL on Wednesday, citing sources familiar with the matter.

The company, which plans to raise about $600 million to $800 million, is likely to go public in the first quarter of 2019, sources told CNBC.

The company, which makes Levi’s jeans, is aiming to debut with a valuation of about $5 billion, the report said.

Levi Strauss was not immediately available for comments.

Reporting by Nivedita Balu in Bengaluru; Editing by James Emmanuel

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