Robinhood Reportedly Considering to Sell Shares to Clients First During Upcoming IPO

The move could significantly affect trading price when it goes public.

By
Tech 
10,931 Hypes 3 Comments

Robinhood is considering to allocate a certain portion of its shares for sale to its own clients during its upcoming initial public offering.

According to a new report from Bloomberg, sources close to the issue have revealed that online trading platform Robinhood is looking to go public as early as during this quarter, with plans to withhold a certain amount of shares for sale directly to the service’s own clients. The move could have significant effects on its opening trading price, as retail investors don’t usually get to purchase shares at their offering price, and so fight over each other on the stock market once public trading begins, often inflating prices as a result. The company itself was valued at $11.7 billion USD back in September of 2020, and has recorded 13 million accounts on its platform.

Bloomberg also reports that a representative from Robinhood has declined to comment.

Elsewhere in business-related news, Nintendo has acquired Luigi’s Mansion 3 developer Next Level Games.

Read Full Article

What to Read Next

AndaSeat Partners With Disney Marvel's Avengers on a Series of Gaming Chairs
Gaming

AndaSeat Partners With Disney Marvel's Avengers on a Series of Gaming Chairs

Centered around Captain America, Iron Man, Spider-Man and Ant-Man.

Griselda Records Drop 'CONFLICTED' Soundtrack
Music

Griselda Records Drop 'CONFLICTED' Soundtrack

The label’s debut feature film premieres January 15.

Take an Official Look at the Notre x Nike Dunk High "Light Orewood Brown"
Footwear

Take an Official Look at the Notre x Nike Dunk High "Light Orewood Brown"

Inspired by elements of a mechanic workwear.


Lil Baby and Roddy Ricch Lead 2020's Most Streamed Albums and Songs
Music

Lil Baby and Roddy Ricch Lead 2020's Most Streamed Albums and Songs

Pop Smoke, Lil Uzi Vert and Cardi B also earned big numbers in 2020.

Enjoy Ice Cream for Breakfast With KLONDIKE's "Wake Me Up Coffee" Donut
Food & Beverage

Enjoy Ice Cream for Breakfast With KLONDIKE's "Wake Me Up Coffee" Donut

Made with 100% Arabica Colombian coffee.

Facebook Redesigns Pages With Cleaner Interface and Removes "Likes"
Tech

Facebook Redesigns Pages With Cleaner Interface and Removes "Likes"

Simplifying navigation.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.