The knot in Reddit’s public offering process is being resolved today. The company will be listed on the New York Stock Exchange in the coming hours. Platform administrators announced that share lot prices will start at $34.
One of the largest forum sites in the world redditin the last few months through the public offering process is the subject of our news. The company, which made an official application a few months ago, will be listed on the New York Stock Exchange in the coming hours.NYSE) will start trading. The latest news reveals that Reddit will adopt an aggressive stance in the IPO process.
In a news we shared with you recently, Reddit’s public offering process great interest since we mentioned. We also reported that Reddit management had a target of $31 to $34 per lot. The company clarified this issue in its latest statement on the subject. Reddit management stated that the purchase price of the share lots 34 dollars announced that it would happen. In other words, the company will enter the stock market at the top of its targeted range.
Reddit has already raised $500 million!
Reddit’s decision to set the lot price as the top of the target range caused platform administrators to expectations are high It is a matter that reveals. This situation is already reflected in the figures. Because the platform has already collected 500 million dollars. Reddit’s valuation is $5.4 billion levels.
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What will be the pricing of Reddit shares, which will be listed on the New York Stock Exchange under the code “RDDT”? already a matter of curiosity happened. Because Reddit’s IPO was one of the most anticipated IPO processes of 2024. Let’s see if the coming hours can meet such high expectations…
*This content cannot be considered investment advice.
Source :
https://techcrunch.com/2024/03/20/reddit-prices-ipo-at-34-per-share-the-top-of-the-range/