Coinbase Sets Direct Listing For April 14

Coinbase, the largest U.S. cryptocurrency exchange, said it's planning to make its trading debut on April 14. Bloomberg reports: The company's registration statement for the listing has been declared effective by the U.S. Securities and Exchange Commission, Coinbase said Thursday in a statement confirming a Bloomberg News report. The direct listing on the Nasdaq Stock Market had earlier been pushed back from March, Bloomberg previously reported. As with other direct listings, a reference price to help guide investors and to allow the shares to begin trading will be disclosed the night before the company goes public, said people familiar with the matter, who asked not to be identified because the information was private. Coinbase is planning to go public through a direct listing in which it will not raise any new capital, it said in previous filings. It was valued at about $90 billion in its final week of trading on Nasdaq's private market, Bloomberg News reported. The debut will be the first major direct listing to take place on the Nasdaq. All such previous listings were on the New York Stock Exchange, including those by Spotify Technology SA, Slack Technologies Inc., Asana Inc., Palantir Technologies Inc. and Roblox Corp.Read more of this story at Slashdot.
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