Airbnb boosts IPO price range as it looks to raise $3.09 billion
California, LA, 8th December 2020: Airbnb Inc expects to raise up to $3.09 billion in a stock market launch later this week after boosting its price range, capping a stunning recovery in its fortunes after it was heavily damaged by the COVID-19 pandemic earlier this year.
The U.S. home rental firm plans to sell 51.6 million shares at between $56 and $60 apiece, it said in a regulatory filing on Monday. It had earlier targeted a price range of between $44 and $50 per share for 51.9 million shares.
At the upper end of the new range, Airbnb would have a fully diluted valuation, which includes securities such as options and restricted stock units, of $41.8 billion.
This is well above the $18 billion Airbnb was worth in an April private fundraising round in the early weeks of the pand...