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Coinbase To Go Public With Direct Listing Rumours Suggest Share Price Target of $200

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Coinbase, the largest US crypto exchange had earlier announced its plans of going public in the first quarter of 2021 and has finally come out with the details of its public listing. The exchange revealed that they would be opting for a direct listing in an official blog post.

Coinbase Global, Inc. today announced its intent to become a publicly-traded company under a proposed direct listing of its Class A common stock. Such proposed listing is expected to be under a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”).

The rumor mill suggests that the firm is targeting a share price of $200 in its IPO. A direct listing generally does not involves the investment bank that sets the price for the market. The firm’s decision reflects their confidence and will to discover the price of their shares and they have already announced that they would be offering their stocks in a secondary market for company employees and other forums.

Alesia Haas, the CFO of the firm wrote a memo explaining the decision to go for a direct listing and wrote,

We believe a direct listing more closely follows the ethos of crypto and Coinbase because it democratizes access and opportunities for all investors,”

The post Coinbase To Go Public With Direct Listing Rumours Suggest Share Price Target of $200 appeared first on Coingape.



Source: Coinbase To Go Public With Direct Listing Rumours Suggest Share Price Target of 0

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