Setting the stage for one of the most highly anticipated stock market listing, Robinhood Markets Inc., is aiming a value of $35 billion in its initial public offerings in the U.S.
About 55 million shares are being submitted in the IPO, with shares likely to be priced between $38 and $42, the company stated. This would raise over $2.3 billion if priced at the top of the range.
Robinhood was aiming for initial public offerings up to $40 billion, Reuters had earlier stated. Nearly 2.63 million of these shares are submitted by company’s Founders and Chief Financial Officer.