KEY TAKEAWAYS
- Fintech firm Chime priced its IPO at $27 per share, above the expected range, in the latest sign of a revival in new listings.
- The online banking startup raised around $700 million in the IPO from the sale of 25.9 million shares, while existing investors sold about 6.1 million shares for nearly $165 million.
- Shares of companies that listed recently, like USDC stablecoin issuer Circle Internet Group, Israel-based retail trading platform eToro, and space and defense tech firm Voyager Technologies, all surged in their trading debuts.
Fintech firm Chime late Wednesday priced its initial public offering (IPO) at $27 per share, above the expected range, in the latest sign of a revival in new listings.
Chime is set to start trading Thursday under the ticker symbol “CHYM.” The online banking startup raised around $700 million from the sale of 25.9 million shares, while existing investors sold about 6.1 million shares for nearly $165 million.
Last week, Chime said the IPO price was expected to be between $24 and $26 per share.
IPO Market Has Been Picking Up Recently
Shares of companies that debuted recently, like USDC stable coin issuer Circle Internet Group (CRCL), Israel-based retail trading platform eToro (ETOR), and space and defense tech firm Voyager Technologies (VOYG), all soared in their first day of trading.
In its prospectus last month, Chime reported 2024 revenue of $1.67 billion and a $62.2 million loss from operations. The company noted that it averaged $251 in revenue for each of its 8.6 million active members.
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