Reddit, Shareholders Guide IPO Price at Top of Range or Above
- Shares offered at $31 to $34 each in IPO set to trade Thursday
- Sale of 22 million shares at $34 would raise $748 million
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Reddit Inc. and its selling shareholders are guiding that they could price the social media company’s initial public offering at the top of its marketed range or above, according to people familiar with the matter.
The social media platform, along with its top executives and other employees, are offering 22 million shares in the IPO for $31 to $34. At the top of the range and with that number of shares, the listing would raise $748 million.