ZipRecruiter Inc. was assigned a reference price of $18 a share for what will be the fourth major direct listing of the year on a U.S. exchange, Bloomberg reports.
The job search and recruiting company’s shares are set to begin trading today without the company raising any capital. The reference price issued by the NYSE is intended merely as a guide for investors and to allow trading to begin.
If the company does trade near its reference price, it would have a fully diluted valuation of about $2.4 billion based on the shares listed in a statement.
Management in mid-April estimated the fair value to be $25.04 per share. Read more.
