The Wall Street Journal: Rivian Automotive seeks IPO valuation of just above $60 billion in its first public offering
Rivian Automotive Inc.
is seeking a valuation in the low-$60s-billion range in its initial public offering next week, one of the biggest and most-anticipated deals yet in a blockbuster year for new issues.
The Amazon.com Inc.
-backed electric-vehicle startup plans to disclose the targeted valuation in an updated regulatory filing later Monday, according to people familiar with the matter. The roadshow for company management and their underwriters to pitch the shares to potential investors begins Tuesday, and the shares are to start trading on the Nasdaq Stock Market next week under the symbol RIVN.
The valuation could shift by then based on investor feedback and market conditions.
An expanded version of this story appears on WSJ.com.
Popular stories from WSJ.com:
American Airlines’ Flight Cancellations Are Latest to Disrupt Travel
China Locks 30,000 Visitors Inside Shanghai Disneyland After One Guest Got Covid-19