Scheduled to take place on Thursday (10), Airbnb's IPO is one of the most awaited in 2020. And it is already possible to expose the future action even before the initial sale.
This is because of FTX, a derivatives exchange focused on crypto. The exchange said it would add Airbnb to its list of stock offers.
The exposure may be made through a pre-IPO derivative contract directly at FTX. The contract will allow exposure to Airbnb's stock and was launched on Tuesday (8).
Cryptocurrency exposure to Airbnb
The new contract will have the pair “ABNB / USD” and will be a pre-IPO product. Therefore, the execution of the contract is linked to the market value of Airbnb.
This value will be defined at the end of the first trading day. The offer is scheduled to take place on Nasdaq this Thursday.
According to FTX, derivative contracts “will automatically switch to fractional share contracts” at the end of the first day of public stock trading.
"If Airbnb's shares are not publicly listed and traded by March 9, 2021, FTX reserves the right to reverse trading on its ABNB product," said the exchange.
The derivative contract is only available on the main FTX. FTX US, which serves customers in the United States, did not list the pair.
Market eagerly awaits IPO
Airbnb suffered a strong impact from the Covid-19 pandemic. Even so, investors are optimistic about the company's success.
The real estate rental and hosting platform plans to raise about US $ 3.09 billion, R $ 15.6 billion at the current price. The purpose of the IPO is to sell 51.6 million shares.
The company had set a price range of $ 44 to $ 50 per share. In reais, the values vary between R $ 222 and 253, respectively.
However, it recently raised the figure to $ 56 to $ 60. With the new range, the market expects Airbnb to reach a market value of $ 41.8 billion.
In reais, the company's shares would be in the range of R $ 283 and R $ 303. Thus, Airbnb's market value would reach R $ 211.5 billion.
This optimism was also reflected in FTX. Just 24 hours after the launch, ABNB / USD trading volumes soared on Wednesday morning (9).
At the time of writing, more than $ 244,000 had traded hands, according to data from TradingView.
This means R $ 1.2 million at the current price.
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