WASHINGTON (dpa-AFX) - The San Francisco-based home rental platform Airbnb announced the pricing of its initial public offering of about 51.32 million shares of Class A common stock at $68.00 per share. The offering reportedly values Airbnb at about $47 billion, which includes employee stock options and restricted stock units.
Airbnb had initially set a price range of $44.00 - $50.00 for its shares, but raised that to a range of $56.00 - $60.00 earlier this week, citing rising investor demand.
Airbnb is offering 50.00 million shares and selling stockholders are offering 1.32 million shares.
In addition, Airbnb has granted the underwriters a 30-day option to purchase up to an additional 5.00 million shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.
Airbnb's Class A common stock is expected to begin trading on the Nasdaq Global Select Market on December 10, 2020, under the ticker symbol 'ABNB.' The offering is expected to close on December 14, 2020.
Airbnb expects the gross proceeds from the offering to the company, before deducting underwriting discounts and commissions and other offering expenses, to be about $3.4 billion, excluding any exercise of the underwriters' option to purchase additional shares.
Airbnb said it will not receive any proceeds from the sale of shares by the selling stockholders.
On November 16, Airbnb filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for the initial public offering of shares of class A common stock.
Airbnb offers 90,000 cabins, 40,000 farms, 24,000 tiny homes, 5,600 boats, 3,500 castles, 2,800 yurts, 2,600 treehouses, 1,600 private islands, 300 lighthouses, and 140 igloos, and has welcomed over 800 million guest arrivals to about 100,000 cities in almost every country and region across the globe.
Earlier this week, On-demand prepared food delivery service DoorDash said that it priced its initial public offering of 33 million shares of its Class A common stock at $102.00 per share, which was above its previously estimated $90.00 and $95.00 per share range.
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