Media company Reddit, best known for its social network, hopes to reach a valuation of $6.5 billion in its initial public offering, although Bloomberg previously estimated it at $5 billion. The expected price per share will range between $31 and $34, as reported by Reuters. .
Sources close to the company cited by the agency report that part of the shares that will be sold during the IPO will be new shares. In total, Reddit intends to sell 10% of its shares.
According to preliminary data, as the same Reuters agency previously learned, the media holding company plans to complete the initial public offering by the end of March. The corporation’s intention to carry out an initial public offering (IPO) was known at the end of 2021.
Since then, estimates of the company by various expert communities have ranged from $10 billion in 2021 (then, hoping to reach $15 billion, the holding company invited Morgan Stanley and Goldman Sachs, but not achieved the goal) up to $4.8-$5 billion in 2022. (Bloomberg, Forge Global Holdings and Rainmaker Securities).
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
