The grocery delivery business looks to tap into investor enthusiasm after Arm Holdings’ unexpectedly strong trading debut.
Grocery delivery business Instacart is preparing to price its initial public offering on Monday after boosting its price range following a strong trading debut by Arm Holdings, according to people familiar with the matter.
Instacart said in a filing Friday that it is now seeking to raise as much as $US660 million by marketing shares at $US28 to $US30 each, up from a previously indicated range of $US26 to $US28 per share. It could achieve a fully diluted equity valuation of as much as $US9.9 billion if the offering prices at the top end of the revised range.— a move that is expected to help pry open the IPO market for other companies looking to go public.
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