Market Pulse Archives

Sept. 14, 2021, 7:28 a.m. EDT

Remitly sets IPO terms, to be valued at up to $6.8 billion

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Remitly Global Inc. (RELY)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Remitly Global Inc. /zigman2/quotes/229492987/composite RELY -9.11% could be valued at up to $6.78 billion, as the Seattle-based digital financial services provider for immigrant has set terms of its initial public offering. The company is looking to raise up to $294.0 million as it is offering 7.0 million shares in the IPO, which is expected to price between $38 and $42 a share. Selling shareholders are offering an additional 5.16 million shares to raise up to $216.8 million. The company expects to have about 161.42 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "RELY." Goldman Sachs and J.P. Morgan are the lead underwriters. The company recorded a net loss of $9.2 million on revenue of $202.1 million in the six months ended June 30, after a loss of $21.1 million on revenue of $105.1 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -4.67% has gained 5.9% over the past three months and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.89% has tacked on 5.0%.

/zigman2/quotes/229492987/composite
US : U.S.: Nasdaq
$ 13.17
-1.32 -9.11%
Volume: 883,567
Jan. 21, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.16 billion
Rev. per Employee
$310,282
loading...
/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 44.67
-2.19 -4.67%
Volume: 326,133
Jan. 21, 2022 4:10p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.