DoorDash updated its pricing range for its initial public offering on Friday.- The food delivery company aims to raise up to $3.1 billion by selling 33 million shares, priced between $90 and $95 per share. That's up from the previous range of $75 to $85.
- DoorDash's
IPO is scheduled for December 8 and its trading debut on the NYSE follows the next day.
DoorDash plans to raise as much as $3.1 billion in its much-anticipated stock market debut this month, according to an SEC filing released Friday.
The food delivery company plans to sell 33 million shares between $90 and $95 per share. Its pricing range was lifted from a prior target of between $75 and $85 per share. At the top end of the IPO price range, the company's market capitalization would be around $30 billion.
San Francisco-based DoorDash, the biggest player of the US food delivery services, plans to list on the New York Stock Exchange under the ticker symbol "DASH."
The IPO is scheduled for December 8 while its trading debut on the NYSE would follow the next day, according to Bloomberg. Lead underwriters for its offering are Goldman Sachs and JPMorgan.
DoorDash is seven years old and calls itself an "emerging growth company." Like many other startups, the delivery company has been operating at a loss for years as it seeks to expand its userbase.
Other companies that are planning an IPO in December include Airbnb, which is eyeing a $35 billion valuation, video-game firm Roblox, fintech Affirm Holdings, and e-commerce platform ContextLogic.