Airbnb’s choice of U.S. stock exchanges is a technology-focused Nasdaq.
Short-term Airbnb, which provides rental housing, plans to list on the Nasdaq stock exchange in the United States during December.
Airbnb has announced its intentions to list last in August. On Monday night, the company’s plans for the timing and stock exchange selection were clarified when it sent its listing prospectus to the U.S. Securities and Exchange Commission.
According to the news agency Reuters, the company intends to raise more than three billion dollars, or about 2.5 billion euros, in the public offering. The valuation of the company would rise to about $ 30 billion, or more than 25 billion euros.
Airbnb has been planning a listing since 2019, but the pandemic messed up the plans. The company originally planned a direct listing where it would not raise any new funding at all.
The Nasdaq is known on U.S. stock exchanges as technology-focused. Airbnb, which provides housing, is a website and mobile application that tourists, for example, use to find temporary accommodation. Initially, housing was provided by private individuals, but in recent years, the rental business has also become more professional.
About the listing prospectus it turns out that Airbnb made a profit in the third quarter of the year, even though the coronavirus pandemic hit the whole world. The company made a profit of $ 219 million in July-September, although its revenue fell 18 percent from the same period last year to $ 1.3 billion.
“The recovery in the second and third quarters is due to visitors’ new ability and willingness to travel, the relentlessness of our tenants and the relative strength of our business model, ”the company said in a statement, according to Reuters.
The early part of the year was difficult for the tourism-based housing rental business.
Airbnb laid off a quarter of its employees in May and has tried to seek alternative income by renting apartments outside the cities to escape the pandemic, Reuters reports.