- Airbnb’s debut on the NASDAQ Composite, will be one of the largest stock market listings of 2020
- According to sources, Airbnb plans to set an IPO price range and kick off an investor roadshow in December
THoD Newsdesk, USA: As per reports by Reuters, U.S.- based Airbnb Inc. is planning on making its initial public offering (IPO) registration public, as early as next week. This will set their course for a stock market debut in motion next month. Airbnb’s debut on the NASDAQ Composite, will be one of the largest stock market listings of 2020, as due to the pandemic, the surge in home rentals has gone up in contrast to hotel accommodations.
The initial public offering filing will give outsiders the first detailed look into Airbnb’s business. Reports by Reuters suggest that Airbnb was aiming towards raising around $3 billion and that it could achieve a valuation of more than USD 30 billion in the IPO. The company has further secured emergency funding from investors, including Silver Lake and Sixth Street Partners, in April, amid the ongoing pandemic.
The likes of record label Warner Music Group, data analytics firm Palantir Technologies and data warehouse company Snowflake Inc., have already gone public this year.
According to sources, Airbnb plans to set an IPO price range and kick off an investor roadshow in December, the sources said, cautioning that the timing is subject to market conditions. The U.S. election junked the uncertainty for IPO hopefuls this week, as the prospect of a divided government that would not raise taxes fueled a stock market rally. The CBOE volatility index, a gauge for short-term volatility that is closely monitored by IPO candidates, has hit a two-week low after spiking to a four-month high in the run-up to the election.