The initial public offering of German footwear company Birkenstock Holdings Ltd. marked one of the worst debuts for a billion-dollar deal of the last decade, according to Renaissance Capital. Birkenstock BIRK ended its first day of trading down 12.9% and was down 21% by the end of the week, according to Bill Smith, founder and CEO of Renaissance, a provider of IPO exchange-traded funds and institutional research. Of…
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