Coinbase announced that the direct listing of the exchange’s shares on Nasdaq will take place on April 14.
According to forecasts, the shares will trade at $300-350, with the exchange valued at about $100 billion.
Cryptocurrency exchange Coinbase said on Twitter that the US Securities and Exchange Commission (SEC) announced the approval of the exchange’s application for a direct listing on Nasdaq, which will take place on April 14, 2021.
We’re happy to announce that earlier today, the SEC declared our S-1 registration statement effective and that we expect our direct listing to occur on April 14, 2021, with our Class A common stock trading on the @NASDAQ under the ticker symbol COIN.https://t.co/cwRZWmj9Pv
— Coinbase (@coinbase) April 1, 2021
According to analysts forecasts, Coinbase shares under the “COIN” ticker will trade in the range of $300-350. The trading platform is valued at $100 billion.
According to CNBC, based on an average price of $343.58 per share, 39.6 million shares of Coinbase CEO Brian Armstrong will be worth $13.6 billion.
According to a press release from Coinbase, on April 6, the company will report its first-quarter earnings and financial forecasts for 2021.
Coinbase filed preliminary documents with the SEC to enter the stock market in December last year. Back then, the exchange was considering both a direct listing and an initial public offering (IPO). In January, Coinbase confirmed that it was going to enter the stock market through a direct listing as Class A common stock trading.
Earlier, the plan of the crypto exchange Coinbase for a direct listing on the Nasdaq in March failed and was postponed to April. The reasons for the delay in listing are unknown.
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