Rivian, one of the most promising electric car startups that has received funding from Ford and Amazon, is scheduled to go public next week. Will do it in the NASDAQ from the New York Stock Exchange. Rivian Automotive aims for a market valuation of up to $ 54.6 billion at its initial IPO.
It plans to put 135 million shares up for sale at a price of between $ 57 and $ 62, with an option for subscribers to buy up to an additional 20.25 million shares. In the best-case scenario, Rivian would make roughly $ 9.6 billion on its New York Stock Exchange debut.
However, these figures could change depending on the real demand of the investors and before it continues to start trading. According to sources CNBC, Rivian would seek to achieve acstock market capitalization of $ 60 billion.
Hence, he explained in his presentation that some of the initial investors, such as Amazon and T. Rowe Price, would be willing to buy up to $ 5 billion in shares at the time of the IPO.
A market capitalization almost equal to that of the Ford group
If it achieves that valuation, Rivian would become a kind of giant of electric car startups, such as Fisker, Lordstown Motors or Lucid. But above all, it would mean that Rivian’s market value would be very close to that of traditional auto giants like Ford, which owns 12% of Rivian, and that it has a market capitalization of 62.300 million dollars.
For now, Rivian has started production of its R1T pick-up and has only delivered 156 units, with a forecast of reaching 1,000 units before the end of the year. On the other hand, Rivian is developing vans last-mile delivery for Amazon.
The online commerce giant plans to have 10,000 Rivian vans on the road by 2022 (some have already entered service) and another 100,000 more by 2030.
Amazon’s stake in Rivian is higher than Ford’s. Last week, Amazon revealed that that share was 20% and that, combined with other equity investments, had a book value of up to $ 3.8 billion. To date, Amazon has invested more than $ 1.3 billion in Rivian.