Roblox's reference price is set at $45 ahead of its direct listing, according to the New York Stock Exchange.
At that price, Roblox would command a fully diluted market value of $29.1 billion.
For IPO news alerts and enhanced stories and profiles, try a free trial of Renaissance Capital's premium platform, IPO Pro.
The San Mateo, CA-based company plans to list on the NYSE today under the symbol RBLX.
The NYSE reference price does not reflect an offering price, or the opening price for Roblox's shares. Instead, the opening public price will be determined by the designated market maker, using buy and sell orders collected by the NYSE from broker-dealers.
Roblox is the first direct listing of the year, following last year's two major direct listings Palantir (PLTR) and Asana (ASAN). Crypto exchange Coinbase (COIN) filed last month for a direct listing on the Nasdaq.
There is no firm commitment offering, and therefore no underwriters on the deal; instead, the company's financial advisors included Goldman Sachs, Morgan Stanley, and BofA Securities.
The article Roblox's NYSE reference price is set at $45 ahead of direct listing originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.