• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Sunday, March 7, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Airbnb Submits Paperwork for IPO, Ditches Prospects of Direct Listing

Mwakaneno GakwelibyMwakaneno Gakweli
August 20, 2020
in Global News
Reading Time: 2 min
Airbnb IPO

Airbnb Files Papers for IPO, Ditching Direct Listing. Image Courtesy of Currency.com


Airbnb has filed paperwork for an Initial Public Offering with the U.S Securities and Exchange Commission (SEC). An initial public offering for the company will follow after the SEC completes the review process, and depending on market conditions.

“Today, Airbnb confidentially submitted a draft Registration Statement on Form S-1 to the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock,” read an Airbnb statement.

Previously, executives of the company had considered a direct listing, which would allow its existing investors to sell their stock to the public rather than creating new shares. 

ADVERTISEMENT

The number of shares and the price range for the public offering a yet to be determined.

Airbnb’s year on year revenues fell by 67% to $335 million in the quarter ending June 30th compared to a similar period last year as the pandemic reduced non-essential travel. The company cut its staff base by nearly 25%, sending home 1,900 employees. Further, the company was recently valued down to $18 billion from $31 billion in 2017.

Nevertheless, the company is slowly recovering from the pandemic as bookings rise. Bloomberg reports that June’s booking declined 30% YoY compared to a 70% decline in May.

Airbnb CEO Brian Chesky believes that the company will show more signs of recovery, given the resilience of the travel industry, evident in the rising numbers of travellers in the United States.

If the company receives a green light from the SEC and makes its public market debut before the end of 2020, it will join Warner Music Corp and Lemonade, who went public despite the uncertain economy.

Morgan Stanley will lead the offering, with the involvement of Goldman Sachs.

READ ALSO: Airbnb to Refund $250 Million to Hosts



Hisa App
Previous Post

Kenya Exempts More Countries from Quarantine

Next Post

Legal Hurdle Against Leasing State-owned Sugar Millers Lifted

Related Posts

IFC Grants Bolt $24 Million for Expansion

Bolt Lands $24 Million from IFC for Expansion

March 5, 2021
China’s PMI declines to 50.6 in February 2021

China’s PMI declines to 50.6 in February 2021

March 3, 2021

Visa in Move to Spark Kenyan Fintech Growth Through Visa Everywhere Initiative

March 3, 2021

Apple Opens All US Stores for the First Time Since March 2020

March 3, 2021

US Trade Rep Nominee promises to review US-Kenya Trade Deals

March 3, 2021

Rolls-Royce Taxis All-Electric Plane, Eyes 480kph World Record for Electric Flights

March 2, 2021

Square Begins Banking Operations via its Subsidiary Square Financial Services

March 2, 2021

Volvo to Go All Electric by 2030

March 2, 2021
Load More
Next Post
State-owned Sugar Mills to be Leased to Private Investors

Legal Hurdle Against Leasing State-owned Sugar Millers Lifted

Follow Us

  • 7.2k Fans
  • 113.7k Followers
  • 2.4k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Gamestop

Can the Gamestop Situation Happen in Kenya?

February 21, 2021
Hisa App

Announcing Hisa App Public Beta Launch

February 20, 2021
Absa Kenya CEO Jeremy Awori

Absa Marks One Year Since Transition, Commits KSh1.6 Billion into Digital Products

February 11, 2021
NSE Derivatives

How To Make Money Trading Derivatives In Kenya

February 9, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?