Dr. Martens is being valued between £3.3-3.7 billion (€3.7bn-$4.5bn to €4.2bn-$5.1bn) in its planned public offering on the London Stock Exchange, whichis already fully booked. The valuation implies a multiple of over 17 times Ebitda, as the company generated Ebitda of £184 million (€204.2m-$248.3m) on revenues of £672 million (€745.8m-$907m) in the financial year ended in March 2020. The private equity firm Permira and other investors are selling 350 million shares at 330-370 pence each (€3.73-$4.53 to €4.18-$5.08). The stake represents 35 percent of the brand’s capital and would raise up to £1.3 billion (€1.5bn-$1.80bn) for the sellers. No new shares are being issued. The shareholders have the right to sell a further 53 million shares in case of excess demand. Dr. Martens has already received significant purchase commitments from institutional investors, including £250 million from BlackRock, £100 million from Janus Henderson Group and £75 million from Merian Global Investors. The order book is open until Feb. 1 and the company is scheduled to start trading on the London Stock Exchange on Feb. 2. But, the timing could be brought forward and the transaction completed this week. Permira bought Dr. Martens from the Griggs family in 2013 for £300 million (€333m-$405m). The Griggs, company managers, employees and former employees also own shares. According to The Sunday Times, Dr. Martens’ management will see its combined stake in the company worth £350 million, of which £58 million for chief executive Kenny Wilson alone.