Airbnb increased the price range of its IPO in an updated prospectus on Monday, after DoorDash upped its own price range in a Friday filing. Airbnb will be valued at as much as $42 billion at the top end of the revised range. Increasing the price range usually implies that the offering is being well-received among investors and demand is high. Companies are allowed to price their IPO shares up to 20% above the revised range without having to refile with the Securities and Exchange Commission. Airbnb and DoorDash will quickly be followed by three other mega-listings that could add billions of dollars to the IPO tally.

Source: Mint December 07, 2020 18:22 UTC