Michael Kors desigs a successful IPO
Fashion designer Michael Kors understands what fashion-conscious shoppers desire. Apparently, he knows what investors want, too.
It had planned to sell about 41.7 million shares for between $17 and $19 each but priced at $20 last week. The company raised $944 million Wednesday after selling 47.2 million shares in the IPO, valuing the company at $3.8 billion.