Today news
About the same in other media
Bezos-backed Rivian revs up for $65bn valuation in IPO
Reading now: 217
The Jeff Bezos-backed electric carmaker Rivian is aiming for a market value of $65bn (£48bn) when shares start trading in New York on Wednesday, in one of the biggest-ever stock market floats.
Rivian announced late on Tuesday that its shares would start trading at $78 each, significantly above the $52 a share lower end of the range it had first targeted. It sold 153m shares, more than the 135m it aimed for initially.
The increased offer price means Rivian will raise $11.9bn, putting it among the top 10 initial public offerings of all time in the US, according to data from Dealogic.
More than 20 investment banks are involved in running the sale, led by Morgan Stanley, Goldman Sachs and JP Morgan.
The raised price reflects the huge demand for
Read more on theguardian.comAbout this in other media
Ripple joins hands with Palau for ‘world’s first government-backed stablecoin’ ambcrypto.com /2 years ago
El Salvador To Build World's 1st "Bitcoin City" With Money From $1 Billion Bitcoin-Backed Bond ndtv.com /2 years ago
Andy Byford: ‘We can’t let London’s transport fall into managed decline’ theguardian.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
