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Airbnb's IPO is expected to price above previously forecast range: report

Published: Dec. 9, 2020 at 10:40 a.m. ET

By

Tomi Kilgore

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ABNB

DASH

AI

PUBM

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SPX

Airbnb Inc.'s ABNB, much-anticipated initial public offering is expected after Wednesday's close to price above the expected range, according to a report in the Wall Street Journal. The stock is expected to begin trading on Thursday, the WSJ report said. Earlier this week, the San Francisco-based home-rental company had raised the expected pricing range of its IPO to between $56 and $60 a share from between $44 and $50 a share. The expected IPO pricing would value Airbnb at more than $42 billion, the report said. Late Tuesday, no less than three initial public offerings from DoorDash Inc. DASH, +85.79%, C3.ai Inc. AI, +120.21% and PubMatic Inc. PUBM, +47.25% all priced above their expected ranges. Investor demand for IPOs has been strong this year, as witnessed by the 39.3% surge in the Renaissance IPO ETF IPO, -3.09% year to date, compared with the S&P 500's SPX, -0.79% 8.8% gain.

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