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© Reuters. A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville

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(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.

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