Austin, Texas-based dating app Bumble raised $1.94 billion in its initial public offering, selling 45 million shares at $43 each. The offering was upsized from $1.75 billion.
Shares began trading at $76 each for the popular dating and social networking app.
Citigroup and Goldman Sachs Group were the senior managers for the deal.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
What we know about the Bumble IPO
Thursday, February 11: Shares of BMBL began trading on the Nasdaq. The stock opened at $76 per share.
Wednesday, February 10: Bumble completed its IPO, selling 45 million shares at $43 each, raising $1.94 billion. The offering was upsized from $1.75 billion. Shares of BMBL will begin trading on the Nasdaq February 11.
Monday, February 8: Bumble increased the price range on its IPO to between $37 and $39 per share, up from between $28 and $30. The company also plans to offer 45 million shares, up from the originally announced 34.5 million shares.
Thursday, February 4: Bumble is expected to complete its IPO on February 11.
Tuesday, February 2: Bumble set a price range for its initial public offering at between $28 and $30 per share. The company plans to offer 34.5 million shares.
Friday, January 15: Bumble filed a Form S-1 with the US Securities and Exchange Commission, solidifying its plans to conduct an initial public offering. Citigroup and Goldman Sachs Group have been confirmed as the lead bookrunners for the IPO.
Monday, December 21: Bumble has reportedly filed a confidential draft registration statement with the US Securities and Exchange Commission, declaring its intention to conduct an initial public offering. Sources close to the deal suggest it could close in February 2021, around Valentine’s Day, but that has not been confirmed.
Thursday, November 12: Bloomberg reports that Bumble’s IPO is expected to list in the first quarter of 2021.
We’ll update this page with information as it becomes available.
Can I buy Bumble stocks from Canada?
You won’t be able to buy Bumble stocks on a Canadian stock exchange like the TSX or CSE, but you can from a Canadian-based brokerage that offers international access to companies listed on stock exchanges outside of Canada. Specifically, you’ll need a brokerage that provides access to the NASDAQ, the stock exchange on which Bumble stocks will be traded.
The process of buying stocks in a US company while living in Canada is the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles US stocks.
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How to buy shares in Bumble
Once Bumble goes public, you’ll need a brokerage account to invest. Consider opening a brokerage account today so you’re ready as soon as the stock hits the market.
Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
Search for Bumble. Find the stock by name or ticker symbol. Research its history to confirm it’s a solid investment against your financial goals.
Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Bumble reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Bumble, depending on your broker.
Check in on your investment. Optimize your portfolio by tracking how your stock — and the business as a whole — performs in the long term. You may be eligible for dividends and shareholder voting rights on directors and management decisions that can affect your stock.
Tax implications of buying US stocks in Canada
Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.
An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.
Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.
All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you’ll be double taxed on those earnings — first by the IRS, then by the CRA.
Compare trading platforms that provide access to Canadian and US stocks
To buy stocks, you’ll need to open a brokerage account. Compare your options using the table below to find the best fit for you. Take a look at our guide on opening a stock trading account to learn more.
Note: The dollar amounts in the table below are in Canadian dollars.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
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