NEW YORK, Reuters Birkenstock Holding has secured enough commitments from investors to price its U.S. initial public offering IPO at the top of its indicated range and attain a 10 billion valuation, according to people familiar with the matter.

The German premium footwear company will make a final decision on pricing its IPO at the top of its 44to49pershare range on Tuesday, ahead of its shares debuting in New York on Wednesday, the sources said.

Birkenstock would end up raising 1.58 billion at the top of the range.

The sources cautioned the deliberations are fluid and requested anonymity because the matter is confidential. Birkenstock declined to comment.

Birkenstock is the fourth major company to launch a U.S. IPO in the last four weeks following those of chip maker Arm Holdings , grocery deliver app Instacart and marketing automation platform Klaviyo.

They priced their IPOs at the top or above their indicated range and saw their shares rally at the debut, only to give up most of the gains in the following days. While shares of Arm and Klaviyo still trade above their IPO price, Instacart39;s stock is now worth less than its IPO value.

This helps explain why Birkenstock is not inclined to raise its IPO price range despite the strong initial investor demand.

It is already seeking a valuation that is frothier than some bigger shoe brands. It would be worth about 27 times trailing 12month earnings before interest, taxes, depreciation and amortization at the top of…