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Published on Wednesday, October 28, 2020

Airbnb IPO to list on Nasdaq

Airbnb has chosen to float on the Nasdaq exchange.

It has gone for a Nasdaq listing instead of the New York Stock Exchange in what will be one of the year's most high profile listings.

The Airbnb IPO hopes to raise about $3 billion.

Airbnb still hopes to go public before the end of the year.

Morgan Stanley and Goldman Sachs Group are the lead underwriters for the IPO, Reuters reported recently.

It will be one of the biggest listings on the Nasdaq.for some time.

"The travel industry, including Airbnb has been hit hard by Covid-19 and there will continue to be tremendous uncertainty but our booking data shows that travel is beginning to bounce back," it said recently.

Like many of its home sharing and traditional hotel rivals, it has made deep cuts.

It slashed its global workforce by a quarter earlier this year.

According to Bloomberg, Airbnb wrote to shareholders saying it will split its privately held shares, which would lower its share price.


Written by Ray Montgomery, US Editor

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