Airbnb to boost IPO price range, aims for $42 billion value
Airbnb Inc. boosted the price range of its initial public offering, pushing its potential valuation to as much as $42 billion.
The San Francisco-based company will now offer its shares for $56 to $60 apiece, up from a previous price range of $44 to $50 each, according to a filing Monday. That would increase the amount Airbnb is expected to raise to as much as $3.1 billion, and push its fully diluted valuation to $42 billion from $35 billion at the top of the earlier range. The home-rental company, which has seen a bounce back in domestic bookings since the early days of the pandemic crushed demand, still plans to offer 51.6 million shares.
Morgan Stanley and Goldman Sachs Group Inc. are leading the IPO. Airbnb plans to trade on the Nasdaq Global Select Market under the symbol ABNB