![]() That could create some post-listing dip opportunities for investors. Securities and Exchange Commission (SEC) changed the rules on direct listings, allowing companies to raise cash by auctioning new shares in parallel with sales by current shareholders.īecause Roblox recently raised money in a Series H round, and its capital needs would seem pretty much in hand for now, the direct listing is more likely a way to afford those current shareholders a liquidity opportunity. What is that? A move in December by the U.S. The RBLX direct move has an advantage over those two transactions. RBLX Stock Listing Avoids Traditional Routeīy taking RBLX stock direct to market and avoiding the traditional IPO route, management is following in the footsteps of two other disruptive firms, Spotify Technology (NYSE: SPOT) and Slack Technologies (NYSE: WORK). gaming company Roblox Corp closed up 54.4 in its New York Stock Exchange trading debut on Wednesday, valuing the company at 45.2 billion. ![]() ![]() The San Mateo, Calif., videogame company said it would commence the direct listing after the SEC completes its review process. ![]() The earlier plan for an IPO fell apart after difficulties in determining the right price for the gaming platform’s shares, coming in the wake of strong market debuts by Airbnb (NASDAQ: ABNB) and DoorDash (NYSE: DASH). plans to register with the SEC to go public via a direct listing of its stock, instead of through an IPO as it had planned, The Street reports. However, the company’s net loss climbed to 253.3m in 2020 from only 71m in 2019 and 88.1m in 2018. After the company reached a $29.5 billion valuation in a recent funding round, Roblox shares could price at $45 a piece when they come to market. The strong growth in users lifted Roblox’s revenue by 82 per cent in 2020 to 923.9m, having risen by 56 per cent in 2019 from 325m to 508.4m. ![]()
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