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Wednesday, December 14, 2011

Michael Kors Holdings shares prices outlook december 15 2011

Kors Holdings shares prices outlook december 15 2011 : Michael Kors Holdings Ltd., the clothing company founded by the designer of the same name, has gotten orders for more stock than is being sold in its initial public offering, said two people with knowledge of the matter.

Kors Holdings is seeking as much as $792 million on behalf of existing stockholders, a regulatory filing shows. Kors himself, the chief creative officer and largest individual investor, plans to trim his stake to 8.6 percent from 12 percent in the sale.

Kors Holdings is selling 41.7 million shares for $17 to $19 apiece, according to the filing. The clothing maker is among 11 companies, including online game maker Zynga Inc., aiming to generate as much as $3.8 billion in U.S. IPOs this week, the most since March.

The midpoint of the offering range would value Kors Holdings at $3.4 billion, or 3.4 times sales of $1 billion in the 12 months through Oct. 1, its filing shows. Coach Inc. (COH) trades at about 4 times sales over the same period, and Ralph Lauren Corp. is at about 2 times sales.

Kors Holdings plans to more than double stores over the “long term,” according to its regulatory filing. Sales surged more than 60 percent to $548.7 million in the six months through Oct. 1.

Morgan Stanley (MS), JPMorgan Chase & Co. and Goldman Sachs are leading the offering for the clothing maker, whose shares will trade on the New York Stock Exchange under the ticker KORS. For the latest updates on the stock market, visit Stock Market Today

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