Ticket reseller StubHub’s IPO 20 occasions oversubscribed, supply says
By Ateev Bhandari
(Reuters) -Ticket reseller StubHub, which delayed its U.S. itemizing in April amid market volatility, has drawn over 20 occasions as many orders for its deliberate preliminary public providing as there can be found shares, a supply acquainted with the matter mentioned on Friday.
The outsized demand for the IPO, which is ready to cost shares on Tuesday, displays pent-up investor urge for food for tech-heavy client platforms.
StubHub didn’t instantly reply to Reuters’ request for remark.
Madrone Companions-backed StubHub had postponed its IPO roadshow earlier this yr as U.S. President Donald Trump‘s tariffs roiled international markets and froze all dealmaking.
In a stark flip of occasions, U.S. IPOs have had a triumphant week as corporations starting from crypto to client tapped the general public markets amid file excessive fairness markets and easing tariff worries.
Swedish buy-now, pay-later agency Klarna’s shares jumped in its long-awaited debut earlier this week, reinforcing bullish investor sentiments for fintechs.
Individually, cafe chain Black Rock Espresso Bar’s shares rose above their concern worth earlier within the day, as buyers disregarded residual considerations over the patron firm’s well being.
StubHub is focusing on a valuation of as much as $9.2 billion in its U.S. IPO, searching for to boost as much as $851 million by providing 34 million shares priced between $22 and $25 every.
The corporate was co-founded in 2000 by Jeff Fluhr and present CEO Eric Baker, who had exited StubHub forward of its $310-million sale to e-commerce agency eBay in 2007.
Baker in 2006 launched viagogo, a rival ticket reseller in Europe, which in 2020 purchased StubHub from eBay for $4.05 billion.
J.P. Morgan and Goldman Sachs are the lead underwriters of the providing.
StubHub will checklist on the New York Inventory Trade underneath the ticker image “STUB”.
(Reporting by Ateev Bhandari in Bengaluru; Enhancing by Shreya Biswas)
