Investors are eagerly awaiting the electric car manufacturer’s IPO.
(Photo: Reuters)
new York The eagerly anticipated IPO of the US electric car developer Rivian is taking on much larger dimensions than initially planned. The company announced on Friday that it would raise the price range for its 135 million shares on offer to $ 72 to $ 74. It had previously been $ 57 to $ 62.
This increases the issue volume from up to 8.4 billion to up to 10.0 billion dollars. Should investment banks exercise subscription rights for further shares, the scope would increase further. Rivian’s total valuation could then reach over $ 65 billion.
The e-car company, whose major investors include Amazon and Ford, brings its papers to the New York technology exchange Nasdaq under the ticker code “RIVN”. The trade premiere is expected in financial circles as early as the coming week.
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