Online ticket seller StubHub has priced its initial public offering (IPO) at $23.50 U.S. per share.
The company is scheduled to begin trading on the New York Stock Exchange under the ticker symbol “STUB” on Sept. 17.
The IPO price per share values the company at $8.6 billion U.S. StubHub says it raised
$800 million U.S. from the stock offering.
The San Francisco-based company was founded in 2000 and acquired by eBay (EBAY) for $310 million U.S. in 2007.
However, StubHub’s founder reacquired the company from eBay in 2020 for $4 billion U.S. with plans to eventually take it public as a standalone concern.
StubHub previously delayed its IPO twice, citing market conditions. The company pulled out of it planned IPO in April of this year after U.S. President Donald Trump rolled out tariffs.
U.S. markets have been flooded with IPOs in recent weeks, with high-profile names such as Klarna (KLAR), Gemini (GEMI), Figure (FIGR), and Circle (CRCL) all going public.
StubHub’s IPO has been priced at the midpoint of an expected range. The company had sought a valuation as high as $16.5 billion U.S. prior to beginning the IPO process.
StubHub said in its IPO prospectus that its first-quarter revenue increased 10% from a year earlier to $397.6 million U.S.
However, the company is not yet profitable and its net loss widened to $35.9 million U.S. in this year’s first quarter from $29.7 million U.S. a year earlier.
