The American company Instacart, which operates food delivery, intends to raise up to 616 million dollars as part of its upcoming IPO. The company announced today that it will offer 22 million shares to investors at a price of $26 to $28 each. The transaction could thus value the entire enterprise at up to $7.7 billion.
In 2021, the then capital increase valued the company at $39 billion. The value of a number of start-ups in the United States reached extraordinarily high levels at the time, aided by low interest rates. Since then, however, the situation has changed, as the US central bank (Fed) has moved to raise interest rates in an attempt to curb inflation.
Instacart stock is expected to go public this month. That is, at a time when, for example, the chip developer Arm or Klaviyo, a marketing automation company, are also heading to the American stock market.
If the IPOs of these firms are successful, it could contribute to a revival of the initial public offering (IPO) market in the United States. It has been in the doldrums for most of the past two years due to Russia’s invasion of Ukraine and rising borrowing costs, Reuters reported.
At the end of last month, the company Instacart already announced that among its investors will be the beverage giant PepsiCo, which will buy shares of the company for 175 million dollars.