Tech

Coinbase is worth almost $ 68 billion even before it was listed

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Coinbase, the largest American trading platform for cryptocurrencies such as Bitcoin, is planning a direct listing on the Nasdaq. It could be that far in March. The company is very popular with investors. Course. This year, the company’s shares changed hands in over-the-counter trading for an average of $ 343.58, as Coinbase disclosed in a notice to the US Securities and Exchange Commission on Wednesday. Accordingly, the company would be worth 67.6 billion US dollars (56.8 billion euros).

Coinbase benefits from the enormous demand for cryptocurrencies. Last year, the average over-the-counter price for shares in the company was just $ 28.83. Most recently, according to US media reports, an overall valuation of more than 100 billion dollars was considered quite possible when the company went public, as private transactions usually achieve significantly lower prices than after the premiere on the public capital market. Coinbase goes black on the Nasdaq.

Coinbase wants to bring 114.9 million shares to the NASDAQ, but without issuing new shares and offering them to the public. Direct IPOs without an initial public offering have been in vogue for some time on the US capital market. They are comparatively cheap and fast, but do not immediately provide the company with fresh capital. On the other hand, the shares of existing shareholders are not diluted.

(with material from the dpa)


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