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Allbirds eyes NYSE float

According to Bloomberg, the company has already contacted Morgan Stanley, JPMorgan Chase, and Bank of America Corp for the float

Woolen trainer retailer Allbirds has reportedly tapped a number of banks for an initial public offering (IPO) on the New York Stock Exchange.

According to Bloomberg, the company has already contacted Morgan Stanley, JPMorgan Chase, and Bank of America Corp for the float.

Seeking to go public as soon as September, the San Francisco-based global retailer is supposedly seeking to be valued at $2bn (£1.44bn) in the listing.

Sources told the US publication that the firm has confidentially submitted its listing documents to the US Securities and Exchange Commission (SEC).

The group, which has stores in both Covent Garden and Marylebone, secured $100m (£72m) through a Series E funding round in September 2020 via participation from Franklin Templeton and T Rowe Price.

According to data provider PitchBook, Allbirds value as of January this year sat between $1.7bn (£1.22bn) and $1.73bn (£1.24bn).

Retail Sector has contacted Allbirds for further comment.

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