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Asset Management – How To

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A Global Asset Management Magazine

Airbnb plans to make its IPO registration public next week, putting it on course for a New York stock market debut in December even as the COVID-19 pandemic intensifies, two people familiar with the matter said Thursday. The home rental company’s planned debut on the Nasdaq is set to be one of the largest stock market listings of 2020, amid a pandemic that has seen demand for house rentals surge as vacationers snub hotels to practice social distancing. Airbnb’s initial public offering filing will give outsiders their first detailed look into Airbnb’s business, shedding light on the company’s reinvention after the coronavirus outbreak pushed it to shift focus from city apartments to holiday homes. The United States set a one-day record for new coronavirus cases on Wednesday, with at least 102,591 new infections reported, according to a Reuters tally. Airbnb plans to set an IPO price range and kick off an investor roadshow in December, the sources said, cautioning that the timing is subject to market conditions. Reuters reported last month that Airbnb was aiming to raise around $3 billion, and that it could achieve a valuation of more than $30 billion in the IPO. The US election diminished uncertainty