Company plans to raise up to $748m from sale of 22m shares, some of which have been set aside for users
Business live – latest updates
The social media network Reddit has revealed that it is seeking a valuation of about $6.5bn (£5bn) at its imminent flotation on the New York Stock Exchange.
The company said in a corporate filing with the US Securities and Exchange Commission on Monday that it planned to raise up to $748m by selling 22m shares valued at between $31 and $34 each in the largest initial public offering of a social media network in four years.
About Author
More Stories
TikTok fined €530m by Irish regulator for failing to guarantee China would not access user data
Tech giants beat quarterly expectations as Trump’s tariffs hit the sector
Renault and Citroën owner warn of ‘painful decisions’ if EU does not change rules for small cars