Wanna own a piece of Michael Kors? Well soon you can! The fashion brand is set for an initial public offering, which means its shares will finally be publicly traded — and it expects that when they hit the market, they’ll go for between $17 and $19.
According to documents filed with the Securities and Exchange Commission Friday, the company will issue nearly 48 million shares at that price, which brings the total value of the company into the neighborhood north of $3.5 billion. (In August, Kors sold a 20 percent equity stake to a group of investors including designer Tommy Hilfiger for $500 million, which valued the company at $2.5 billion.)
Once the shares have been offered, the company will be traded on the New York Stock Exchange under the symbol KORS. Everything else about the way Kors (the company and the man) operates is branded to a tee — why shouldn’t their ticker symbol be the same?
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