San Francisco-based short-term rental company, Airbnb, Inc. to raise $2.5 billion in its Initial Public Offering (IPO).
According to a filing with the US Securities and Exchange Commission, the company will be offering 50 million shares at $44 to $50 per share with plans to trade on the Nasdaq under the symbol ABNB later this month.
Airbnb has been profitable in several quarters over the last couple of years. However, it has taken a hit in recent months due to the coronavirus pandemic as people cut back on travel.