The Stubhub logo is seen at its head office in San Francisco.
Andrej Sokolow | Photo alliance | Getty images
The Stubhub online ticket platform estimated its IPO at $ 23.50, in a stock sale which values the company at $ 8.6 billion.
The price Tuesday evening landed in the middle of the expected range that the company gave last week, raising $ 800 million. Stubhub said his actions should start to negotiate on the New York Stock Exchange on Wednesday under the “Stub” symbol.
The company based in San Francisco was co -founded by Eric Baker in 2000 and was acquired by Ebay for $ 310 million seven years later. Baker has updated Stubhub in 2020 for around $ 4 billion thanks to its new Viagogo company, which operates a ticket market in Europe.
Stubhub has been trying to become a public for several years, but has delayed its public debut twice. The last stand came in April after President Donald Trump’s prices “La Day” of the Liberation Day “be swirling.
The company has deposited a prospectus updated in August, effectively restarting the process to make public.
The initial public offers market has rebounded in recent months after a period of prolonged drought due to high inflation and the increase in interest rates. Clear made his debut on the NYSE last week after the online lender also delayed his IPO in April. Tyler and Cameron Winklevoss’ GeminiStablecoin transmitter CircleCrypto-money exchange supported by Peter Thiel Bullishand design software company Figure all climbed in their respective beginnings.
At the top of the price range that Stubhub offered last week, the company was said to have been estimated at $ 9.2 billion. Stubhub had asked for an evaluation of $ 16.5 billion before starting the IPO process, CNBC previously reported.
Stubhub said in its updated prospectus that the first quarter revenues increased 10% compared to the previous year to $ 397.6 million. The operating profit came to $ 26.8 million for the period.
The net loss of the company expanded to $ 35.9 million, compared to $ 29.7 million a year ago.
