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Electric vehicle maker Rivian wrapped its initial public offering at US$78 per share, well above the raised US$72 and US$74 price range. The offering values Rivian at US$66.5 billion.
Shares shot up to US$106.75 when trading opened and were holding just about US$100 near the close.
Rivian Automotive filed a draft registration with the US Securities and Exchange Commission under the ticker symbol RIVN. Not yet an official IPO, it’s one of the first steps of taking a private company public.
The stock is expected to cost between US$57.00 and US$62.00. It’s expected to launch Nov. 10. The shares will be available on the Nasdaq Global Select Market.
To buy shares listed in the US, you’ll need a brokerage account with access to the US stock market. Check out the steps below:
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