An IPO for Michael Kors

Clearly, I live in the technology bubble.

It seems I am constantly hearing about IPO's (Initial Public Offerings) of companies like Groupon, and Zynga, and Yelp, and LinkedIn (and the persistent Facebook rumors).

But I shamelessly admit missing the IPO of Michael Kors--and his fashion empire.

Kors is now listed on New York Stock Exchange. It shares opened at $25, up 20 percent from their offering price of $20 and brought in $944 million for Mr. Kors and the other selling shareholders. The company itself did not raise any money in the IPO according to The New York Times' DealBook. They report that Kors sold about $117 million worth of stock on the deal, and maintains a roughly 8.6 percent stake that is worth some $400 million. At its current stock price, the company is worth about $4.6 billion.

Source: DealBook

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