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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

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UAB net profit up by 50% for H1

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Birkenstock declares IPO prize

The prize for its initial public offering of stock is set at between $44 and $49. (AFP)
  • Around 32.2 million ordinary shares will be put on the New York Stock Exchange in the IPO, the company said in a regulatory filing.
  • Known for its wide-strapped sandals with cork and latex soles, Birkenstock was founded in 1774 to make orthopaedic shoes.

Berlin, Germany – German sandals maker Birkenstock on Monday set a prize for its initial public offering of stock at between $44 and $49, a range that could see the company raise up to $1.58 billion.

Around 32.2 million ordinary shares will be put on the New York Stock Exchange in the IPO, the company said in a regulatory filing.

Known for its wide-strapped sandals with cork and latex soles, Birkenstock was founded in 1774 to make orthopaedic shoes.

By 1897, Konrad Birkenstock had made the first flexible sole fitting the contours of the feet.

The sandals were brought to the United States in the 1960s, where they were adopted by hippies who took to their no-frills comfort but also saw their utilitarian look as an anti-fashion badge.

But any “unfashionable” association with sock-and-sandal wearing Germans is a thing of the past — they have become standard footwear for celebrities, and the company has launched collaborations with top brands.

The company remained in the hands of the founding family until 2021, when it sold a majority stake to private equity group L Catterton and the family holding fund of French luxury magnate Bernard Arnault.