Airbnb Inc is going public next week despite intense 2nd wave of Coronavirus

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Airbnb Inc said that it’s going for IPO public registration next week, making December debut on New York Stock market despite the COVID-19, 2nd wave is getting worst.

The planned Debut on Nasdaq will be one of the largest stock market listing in 2020 during increased high demand for house rentals as vacationers to practice social distancing

Airbnb’s initial public offering filing will explain its business model to the outsiders as the company moved its focus from city apartments to holidays home due to pandemic. The time for a public offering is critical as the U.S. set a one-day record for new coronavirus cases on Wednesday, with at least 102,591 new infections reported.

Airbnb plans to kick off an investor roadshow in December, providing a price range for its IPO but timing is subjected to the pandemic conditions as well. It was reported by different sources that the company wants to raise $3 billion through the listing and looking for a valuation of more than $30 billion in the IPO.

Due to a hung Congress, Government would not be able to raise taxes which has brought down the volatility index hit a two-week low and making IPO listings easy.

2020 is a huge year for the IPOs where many companies went public such as Warner Music Group, data analytics firm Palantir Technologies and data warehouse company Snowflake Inc this year.

Airbnb did a dramatic recovery after securing emergency funding from investors including Silver Lake and Sixth Street Partners after the pandemic started in March. The company said that customers had booked more than one million nights in a single day for the first time since March 3

Booking Holdings which is used as a conservative public market proxy for its stock by some Airbnb investors have gained more than 50% in the past eight months.

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