Birkenstock shares fall 11% in market debut to notch $8.32 billion valuation

(Reuters) – Luxury sandal maker Birkenstock notched a valuation of $8.32 billion in its market debut on Wednesday after shares opened 11% below their offer price.

The stock began trading at $41 apiece on the New York Stock Exchange, compared with the initial public offering price of $46 apiece.

(Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Anil D’Silva)