Airbnb Inc said on Tuesday it is looking to sell up to $2.6 billion in stock in its planned initial public offering, which could value the home rental firm at as much as $34.8 billion in the last blockbuster U.S. IPO of the year.
The company set a target price range to sell 51.9 million shares at between $44 and $50 apiece, it said in a regulatory filing. Including the option shares, Airbnb is aiming to raise about $2.85 billion at the upper end of the range.
At the top of its target range, the IPO would give Airbnb a fully diluted valuation, which includes securities such as options and restricted stock units, of $34.8 billion, nearly double the $18 billion Airbnb was worth in an April private fundraising round.
Airbnb’s market capitalization at $50 per share would total $30 billion.
Airbnb, which plans to list on the Nasdaq under the symbol ABNB, made its IPO registration public earlier this month and showed that it turned a profit in the third quarter despite the COVID-19 pandemic.
Reuters was the first to report in October that Airbnb was aiming to raise around $3 billion in its IPO that could value it at more than $30 billion.
Morgan Stanley and Goldman Sachs are the lead underwriters for the IPO.
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