The company priced 47.2m shares, 5.5m more than originally announced at US$20 each, above its expected $17-19 range. It begins trading on Thursday under the symbol KORS.
The company said in its initial SEC filing on 5 December that its major shareholders plan to reduce their stakes in the company and that the company will not receive any of the funds raised through the flotation. It expects to retain all future earnings in the operation and expansion of the business. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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