The home-share company represents a major client, but a direct listing will likely be less profitable for the banks than an IPO.
Airbnb is set to hire Morgan Stanley and Goldman Sachs as advisers for its planned stock-market flotation in 2020, Reuters reported Wednesday. The home-share company represents a major client and is poised to be among the biggest firms to go public next year, with a private valuation of $31 billion. The banks are likely to serve more as market advisers than offer underwriters, as a direct listing doesn't involve the sale of any new shares.
Airbnb is set to hire Morgan Stanley and Goldman Sachs as advisers for its planned stock-market flotation in 2020, Reuters reported Wednesday. The home-share company represents a major client and is poised to be among the biggest firms to go public next year, with a private valuation of $31 billion. The banks are likely to serve more as market advisers than offer underwriters, as a direct listing doesn't involve the sale of any new shares.
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