Corp Roblox RBLX,
they received a reference price of $ 45 a share from the New York Stock Exchange late Tuesday as the tween-centric gaming platform prepares to go public via listing just Wednesday.
On the NYSE website, the exchange reported that the company’s stock will start trading under the ticker “RBLX” on Wednesday, adding that the reference price is not an offer price, which will be determined by buy and sell orders. collected from broker dealers.
Read: Roblox goes public: 5 things to know about the tween-centric gaming platform
Listings are just different from the original public offerings because subscribers do not support them as mainstream shareholders convert their property into stock based on trading prices in private markets. The company embarked on plans for direct listing from a planned IPO back in January after receiving a new $ 520 million venture capital infusion that valued the company at $ 29.5 billion.
Roblox reported revenue of $ 923.9 million and a loss of $ 257.7 million in 2020, compared to revenue of $ 508.4 million in revenue and a loss of $ 71 million in 2019, and revenue of $ 325 million and a loss of $ 88.1 million in 2018. The company is looking to grow its business by retaining its pre-teen users as they get older while being attractive to new users who are already teenagers or young adults.
In its most recent file, Roblox reported that nearly 199 million Class A shares were registered for resale, for a total of approximately 388.2 million available. Roblox public debate is expected since word of word IPO began circulating in October.
The last 12 months have been kind to companies going public. The ETO IPO Recovery,
increased by almost 130%, and the S&P 500 SPX index,
has risen 41% and the tech-heavy Nasdaq Composite Index COMP,
has received 64%.
More and more companies have opted to make direct listings public, such as Spotify Technology SA SPOT,
Asana Inc. ASAN,
and Palantir Technologies Inc. PLTR,
It is reported that grocery delivery company Instacart is considering the direct listing route while Coinbase Global Inc. announced his intentions.