PYMNTS.com September 18, 2023
Instacart has announced that it will be pricing its initial public offering (IPO) at $30 per share, which is at the high end of expectations.
At this price, Instacart would have a fully diluted valuation of $9.9 billion, The Wall Street Journal (WSJ) reported Monday (Sept. 18). Its public-trading debut will take place Tuesday (Sept. 19).
This move comes as the IPO market shows signs of resurgence, according to the report. The IPO market has been gaining momentum recently, with investor demand for new issues on the rise. Last week, British chip designer Arm had a successful debut, with its stock surging by 25%.
Encouraged by this positive performance and feedback from prospective investors, Instacart decided to raise its target...
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