Roblox Corp. RBLX,
got a $ 45 per share price from the New York Stock Exchange on Tuesday at the end of Tuesday as the interpolation-focused gaming platform prepares to go public via a direct listing on Wednesday.
On the NYSE website, the stock exchange said the company’s shares will begin trading on Wednesday under the “RBLX” ticker, adding that the reference price is not a bid price, which will be determined by orders of buying and selling collected from broker brokers.
Read: Roblox will be made public: 5 things you need to know about the interpolation-focused gaming platform
Direct quotes differ from initial public offerings because they are not backed by subscribers, as current stakeholders convert their ownership into shares based on the commercial prices of private markets. The company focused on plans for a direct listing of a scheduled IPO in January after receiving a new $ 520 million venture capital infusion that valued the company at $ 29.5 billion.
Roblox reported revenue of $ 923.9 million and a loss of $ 257.7 million in 2020, compared to revenue of $ 508.4 million in revenue and a loss of $ 71 million in 2019, and revenue of $ 325 million and a loss of $ 88.1 million in 2018. The company seeks to grow its business by retaining preadolescent users as they grow, appealing to new users who are already teens or young adults.
In its latest filing, Roblox said nearly 199 million Class A shares have been registered for resale, with a total of about 388.2 million available. Roblox’s public debut has been slated since news of a IPO began circulating in October.
The last twelve months have been kind to listed companies. The IPO of the Renaissance ETF,
has risen almost 130%, while the S&P 500 SPX index,
has increased by 41% and the Nasdaq COMP high-tech composite index,
has gained 64%.
More and more companies have opted for direct playlists to be made public, such as Spotify Technology SA SPOT,
Asana Inc. ASAN,
and Palantir Technologies Inc. PLTR,
According to reports, grocery delivery company Instacart is considering the direct listing route, while Coinbase Global Inc. he has already announced his intentions.