American video game company, Roblox Corporation, is working with the investment banks on the preparation for listing on the US stock exchange, which may happen early next year.
According to the Reuters, such step should help Roblox to take advantage becoming popular during the pandemic. The company expects to be able to double its recent estimate to $ 4 billion.
According to the research company NPD Group, the US consumer spending on video games in the second quarter reached a record level of $ 11.6 billion, which is 30% higher than a year earlier.
Sources reported that Roblox is considering to conduct promotions through the traditional initial public offering or the direct listing, warning that the plans will depend on the market conditions.
With the direct listing, new shares are not sold, and underwriting banks do not affect the pricing, in contrast to IPOs.
Direct listings are a relatively rare phenomenon. Workplace Software Manufacturer Asana Inc. and data analytics company Palantir Technologies, recently became only the third and the fourth companies which went publicly on the New York Stock Exchange through the direct listing.
For the Roblox, which was founded in 2004, the listing will take place in February, when the company raised $ 150 million at the estimated $ 4 billion in the series of G-Series, headed by the venture company, Andreessen Horowitz.
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