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HomeBusinessAirbnb Valuation Tops $100 Billion in Trading

Airbnb Valuation Tops $100 Billion in Trading

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On Wednesday, Airbnb, Inc. announced the pricing for its initial public offering of 51,323,531 shares of Class A common stock. Airbnb said that it will sell 50,000,000 and the sale of 1,323,531 will be initiated by certain selling stockholders. The stock opened Thursday at $146 apiece, above the original $68 initial public offering price.

Airbnb also revealed that it has granted a 30-day option to purchase to the underwriters, and up to an additional 5,000,000 shares of Class A common stock at the initial public offering price, without underwriting discounts and commissions.

The company’s Class A common stock is most likely to commence trading on December 10, 2020 on the Nasdaq Global Select Market. The ticker symbol would be “ABNB.” The gross proceeds from Airbnb’s offering are anticipated to be approximately $3.4 billion, and will exclude any exercise of the underwriters’ option to buy additional shares.

Airbnb will not have a share in any proceeds from the shares sold by the selling stockholders. The public offering is slated to close on December 14, 2020, provided customary closing conditions are satisfied.

The lead book-running managers for the offering are Morgan Stanley, Goldman Sachs & Co. LLC and Allen & Company LLC. The book-running managers are BofA Securities, Barclays and Citigroup, and joint book-running managers are BNP PARIBAS, Mizuho Securities, Credit Suisse, Deutsche Bank Securities, Jefferies and Wells Fargo Securities.

Source: 69 News

Photo- Image by FOTOGRAFIN  from  Pixabay

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