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Friday, November 27, 2020

Airbnb intends to raise roughly £2.32 billion in its initial public offering.

  • Airbnb intends to raise roughly £2.32 billion in its initial public offering.
  • U.S. financial services firm, Ascensus, to go public in the first half of 2021.
  • DPCM Capital to sell 25 million shares and raise £193.40 million in its IPO.

Sources confirmed on Friday that Airbnb Inc. intends to raise close to £2.32 billion in its IPO (Initial Public Offering) later this year. The home rental company saw a significant recovery in its business in recent months after the governments started to ease COVID-19 restrictions.

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Airbnb is expected to be one of the largest IPOs in the United States this year. The American vacation rental online marketplace had originally declared to have confidentially filed for a listing in August with the U.S. regulators.

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As per the sources, Airbnb’s filing will be public after the U.S. Presidential elections in November. The IPO is likely to be launched a month after in December. But market conditions, including election-driven volatility, might push the company into further delaying its IPO.

A spokesman for the San Francisco-based company refrained from commenting any further at this stage. The IPO is expected to value Airbnb at roughly £24 billion.

Ascensus to go public in the first half of 2021

In separate news from the United States on Friday, Ascensus is reportedly considering an IPO to be launched in mid-2021. According to the sources, the listing is expected to value the financial services firm at roughly £2.32 billion, including debt. Ascensus is currently committed to launching a new platform for online sales before the start of 2021.

The largest independent retirement savings company that is majority-owned by Aquiline Capital Partners and Genstar Capital picked Goldman Sachs Group Inc and Barclays plc to prepare for a listing on the U.S. stock market.

The private equity firms, Ascensus, and the two banks are yet to make an official statement regarding the upcoming initial public offering. According to the Dresher-based company’s website, more than 12 million Americans currently have saving accounts with it. Ascensus values its assets under administration at £252.83 billion.

DPCM to raise £193.40 million in its IPO

DPCM Capital Inc, that is backed by Emil Michael (former executive at Uber Technologies), also said on Friday that it has filed for an NYSE-listing under the stock ticker “XPAO”. The company expressed plans of selling 25 million shares at a per-share price of £7.73 to raise £193.30 million in total.

Eric Schmidt is serving as a special advisor to the blank-check company. Schmidt has previously served as the Chief Executive of Google. DPCM has named UBS Investment Bank as the lead underwriter for its initial public offering.

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