Home rental giant Airbnb is hoping to raise $2.5 billion in a long-awaited initial public offering.
The company had toyed with going public earlier in the year, but the plans were derailed by the Covid-19 pandemic.
However, with confidence returning to the hospitality market, chief executive Brian Chesky has decided the time is now right.
The company is expected to be valued at almost $35 billion in a New York stock exchange listing on December 9th.
The business has set the price range of its float at between $44 and $50 per share as it gears up to sell almost 52 million shares.
The San Francisco-based accommodation booking service recorded losses of almost $700 million on revenues of $2.5 billion in the first nine months the year, widening from losses of $323 million in the same period in 2019.
Airbnb suffered a $576 million loss in the second quarter as the Covid-19 pandemic hit the travel industry.
However, the company rebounded to a profit of $219 million in the third quarter covering the summer period, helped by a rise in US domestic travel.
For comparison, rival Marriott International currently has a market capitalisation of around $41 billion.
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