2nd IPO for Michael Kors in 3 months

American designer Michael Kors has announced that a second IPO for his eponymous label is on its way. With the operation, Michael Kors expects to rise over a $1 billion. Barely three months after the brand’s initial public offering (IPO),

Michael Kors revealed his plans for a second, with 25 million shares valued at an estimated $1.18 billion.
 
As Kors said in a filing earlier in March, none of the proceeds will go to the company but to savvy early shareholders.  Michael Kors, the company's chief creative officer, will sell three million shares in the offering, while Chief Executive John Idol will sell 1.7 million shares that will report him an estimated $81.3 million.

Meanwhile, Lawrence Stroll and Silas Chou, co-chairmen of private-equity firm Sportswear Holdings Ltd. and Kors board members, will sell 11.7 million shares fo an estimated gain of $550.8 million.

The company is currently valued at $8.97 billion. When the company went public in December, shares started at $25 and the current stock price has more than duplicated. The IPO sold 47.2 million shares, raising a total of $944 million.
 
Forbes has estimated the designer’s net worth will reach the billions soon, when the KORS stock price hits $63.25. In other words, we can expect to see Kors’ name on Forbes‘ billionaire list next year.