Pinterest set the price range for stock to be sold in its initial public offering at a level below that in its most recent valuation, as the company begins a roadshow to win over investors ahead of its expected debut.
Pinterest set the price range for stock to be sold in its initial public offering at a level below that in its most recent valuation, as the company begins a roadshow to win over investors ahead of its expected debut later this month.
Lyft’s larger rival, Uber, is expected to follow soon, and investors expect Palantir, Slack, and possibly Airbnb to join the parade. Pinterest, which was originally expected to seek a June IPO, accelerated plans to debut on the New York Stock Exchange to as soon as next week. What’s new. Pinterest set its price range on Monday at $15 to $17 a share. It will trade on the New York Stock Exchange under the ticker “PINS.” The company was valued at about $12.3 billion in 2017, when it sold shares to pre-IPO investors for $21.54 each.
Pinterest plans a roadshow this week. It could price the stock higher when it actually debuts. A lower valuation would help lower the bar for the stock to gain after the offering. The company declined to comment.
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