Instacart, the San Francisco-based grocery delivery firm, will price its initial public offering (IPO) on Monday, a change from its original plan to set the price later in the week, according to insider sources. The company, legally known as Maplebear Inc., made this decision based on current market conditions.
The shift in Instacart's IPO schedule follows a successful trading debut by chip designer Arm Holdings Plc earlier this week. Arm Holdings experienced a 25% surge in its stock value, which is expected to encourage other companies' interest in going public.
On Friday, Instacart revealed in a filing that it plans to raise up to $660 million by marketing shares at $28 to $30 each. This is an increase from the previously indicated range of $26 to $28 per share. If the offering prices are at the top end of the revised range, Instacart could achieve a fully diluted equity valuation of nearly $9.9 billion.
Meanwhile, other companies are also preparing for their own IPOs next week. These include Klaviyo Inc., a provider of marketing and data automation services, and German footwear manufacturer Birkenstock Holding Ltd.
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