Levi Strauss goes public for the second time

Levi Strauss is preparing to go public for the second time.

The 165-year-old company is returning to the stock market after a 34 year absence

The retailer has placed its initial public offering at $17 per share. That values the company at $6.6 billion.

It will be listed on the New York Stock Exchange under the ticker LEVI.

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The company first went public in 1971, but in 1985 the descendants of the founder took it private again.

Levi Strauss collected $5.6 billion in revenue last year. That's a 14 percent gain over 2017.

Forbes says the brand is worth $6.4 billion.

The IPO is expected to raise more than $600 million for Levi Strauss, which is seeking to expand its brand.

CNN