Airbnb intends to raise $ 1 billion from the initial public offering

News

Airbnb intends to raise $ 1 billion from the initial public offering

18.11.2020 News

The American company Airbnb, which is the operator of the rental service of the same name, expects to raise $ 1 billion through an initial public offering (IPO). This is stated in a statement posted on Monday on the website of the Federal Securities and Exchange Commission.

The company clarifies that its plans are “preliminary and may change.” So far, Airbnb intends to place Class A shares on the stock exchange at a price of $ 0.0001. The value of the initial block of shares is set at $ 1 billion.

The company simultaneously presented its financial statements for the quarter ended September 30. Revenue decreased by 18% compared to the same period last year, amounting to $ 1.34 billion.

Revenues from measures taken to reduce unnecessary costs amounted to $ 219 million. Losses for the first nine months of this year amounted to $ 697 million.

As reported by The Wall Street Journal, Airbnb expects that the listing of its shares on the New York Stock Exchange will begin this year. The IPO will be organized by Goldman Sachs and Morgan Stanley.

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