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Levi Strauss shares soar 30% in IPO

Levi Strauss surged more than 30% during its public debut Thursday on the New York Stock Exchange. The iconic maker of Levi’s 501 blue jeans raised $623 million from the stock sale. Levi Strauss priced the initial public offering at $17 a share, above its expected price range. At an early trading price of $22.97 a share, the 166-year old company is valued at about $8.9 billion. Traders at the NYSE were allowed to wear jeans to commemorate the occasion. There is usually a strict dress code that prohibits jeans on the floor of the exchange. Levi Strauss has […]

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