Birkenstock set to float on stock market with valuation of nearly $10bn

Birkenstock is set to float on the New York stock exchange this month, aiming for a valuation of nearly $10bn with shares priced at $44 to $49 each. Photograph: Wilhelm Edfalk/Alamy

Birkenstock, the resurgent German sandal maker once beloved by healthcare workers, is set to be valued at up to €9.2bn ($9.7bn) when it floats on the stock market this month.

Around 32.2 million ordinary shares will be put on the New York Stock Exchange in an initial public offering. On Monday, the company priced its shares at $44 to $49 each, which could see the company raise up to $1.58bn.