Roblox Corp. RBLX,
got a reference price of $ 45 per share from the New York Stock Exchange late Tuesday as the intercenter gaming platform prepares to go public through a direct listing on Wednesday.
On the NYSE website, the stock exchange said that the company’s shares will start trading under the “RBLX” marker on Wednesday, adding that the reference price is not a bid price, which will be determined by the buy and sell orders collected from brokers. dealers.
Read: Roblox goes public: 5 things to know about the inter-centric gaming platform
Direct listings differ from the initial public offerings in that they are not supported by subscribers, as current stakeholders convert their ownership into shares based on private market trading prices. The company pivoted on plans for a direct listing from a planned IPO in January, after obtaining a new $ 520 million venture capital infusion, which 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 USD in 2018. The company seeks to grow its business, retaining its pre-adolescent users as they age, while attracting new users already in adolescence or adulthood.
In its latest record, Roblox said nearly 199 million Class A shares were registered for resale, for a total of about 388.2 million available. Roblox’s public debut has been anticipated since word of an IPO began circulating in October.
The last 12 months have been kind to companies that have become stock exchanges. The famous IPO ETF ETF,
increased by almost 130%, while the S&P 500 SPX index,
increased by 41%, and the Nasdaq COMP composite index
won 64%.
More and more companies have opted for direct listings to become public, such as Spotify Technology SA SPOT,
Asana Inc. ASAN,
and Palantir Technologies Inc. PLTR,
Instacart food delivery company is considering the direct listing route, while Coinbase Global Inc. he has already announced his intentions.