Airbnb aims for up to Sh3.3 trillion valuation in IPO

In Summary

•The home rental firm plans to sell about 57 million shares.

•Shares will be priced between $44 and $50 each, it said in a regulatory filing on Tuesday.

A screenshot of Airbnb website of Kwale homes and apartments
A screenshot of Airbnb website of Kwale homes and apartments
Image: COURTESY

Airbnb Inc is looking to raise up to $2.85 billion at a valuation of roughly $30 billion in its stock market listing, the last blockbuster U.S. initial public offering in a bumper year as tech-focussed startups take advantage of a stunning surge in stock prices.

The home rental firm plans to sell about 57 million shares priced between $44 and $50 each, it said in a regulatory filing on Tuesday.

Exchange rate on Tuesday $1= Sh110.25.

More to follow...