Levi re-enters market
After 30 years, Levi Strauss & Co. has decided to return to a publicly traded market.
The troubled corporation filed papers on Feb. 13 for an initial public offering of $100 million. That is just a placeholder amount. The corporation has not revealed a price range or amount it seeks to raise.
The product for which the corporation is best known, riveted pants made of dungaree material, was invented by Reno tailor Jacob Davis in 1870-1871. Levi Strauss later provided the funding to file patent papers, after which Davis and Strauss partnered on production of the product.
The corporation went public in 1971, then was taken private again 14 years later.
It will use a listing of “LEVI” on the New York Stock Exchange.