Coinbase announced that the exchange will be directly listed on the Nasdaq on April 14. According to preliminary forecasts, the shares will be trading at $ 300-350, while the exchange is estimated at about $ 100 billion.
Coinbase cryptocurrency platform stated on Twitter that yesterday the US Securities and Exchange Commission (SEC) announced the exchange’s approval for a direct listing on the Nasdaq on April 14, 2021. According to analysts, Coinbase shares under the ticker COIN will trade in the $ 300-350 range.
The trading platform is valued at $ 100 billion. According to CNBC, based on an average price of $ 343.58 per share, the 39.6 million shares of Coinbase CEO Brian Armstrong will be worth $ 13.6 billion. According to a Coinbase press release, the company will report earnings on April 6 and losses for the first quarter and will provide financial projections for 2021.
Coinbase filed preliminary documents with the SEC to enter the stock market back in December last year. Then the exchange considered the possibility of both a direct listing and an initial public offering (IPO). In January, Coinbase confirmed that it intends to enter the stock market through a direct Class A placement.
Earlier, the plan of the cryptocurrency exchange Coinbase for a direct listing on the Nasdaq in March “fell through” and was postponed to April. The reasons for the delay in listing are unknown.
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