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SAN FRANCISCO – US denim giant Levi Strauss & Co said has said it expects to raise as much as US$587m through an initial public offering (IPO), which would give it a market value of up to US$6.17bn. The company is returning to public ownership following three decades as a private business. Levi’s had revenues of US$5.6bn last year and appears well-placed to capitalise on rising global sales of denim thanks to its huge market recognition. There has been a glut of IPOs in the past 12 months, with many analysists believing that businesses are keen to get deals done before the economy slows down.

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