The Pinterest IPO is underway and it comes with good news for investors in the stock.
Here are a few things for investors to know about the Pinterest IPO.
- The company’s stock is trading on the New York Stock Exchange under the ticker “PINS.”
- Pinterest (NYSE:PINS) started its IPO off with shares trading at $19 each.
- The Pinterest IPO has it selling 75 million shares of its stock.
- This gives the company a valuation of $10 billion.
- There also an option for an additional 11.25 million shares that underwriters of the IPO can purchase.
- The $19 price is better than its initial plans to launch its shares in the IPO between $15 and $17.
- However, it does still value the company less than the last round of private funding.
- The last private funding for the social media company gave it a value of $12.30 billion.
- The Pinterest IPO starts today and will be running through April 23, 2019.
- PINS stock opened today at $23.60, which is 24% above its price for the IPO.
- The lead joint book-running managers for the offering are Goldman Sachs, J.P. Morgan Securities and Allen & Company.
- BofA Merrill Lynch, Barclays Capital, Citigroup Global Markets, Credit Suisse Securities, Deutsche Bank Securities and RBC Capital Markets. are also serving as book-running managers for the IPO.
- Robert W. Baird & Co. Incorporated, UBS Securities and Wells Fargo Securities are co-managers of the IPO.
PINS stock was up 26% as of Thursday afternoon.
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As of this writing, William White did not hold a position in any of the aforementioned securities.