Shares in this article
• No IPO via SPAC
• Possible step on the stock exchange in 2022
• Valuation to increase to $ 20 billion
Kraken: Too big for a SPAC
So far, the San Francisco-based crypto trading platform Kraken has not yet confirmed whether it will follow Coinbase and also aim for an IPO. In a written statement to Cointelegraph, Kraken clears up speculation that it may want to go public via SPAC. The company is too big for that. If Kraken should decide to go public, it will be through a direct placement.
IPO via direct placement
The fundamental difference between a traditional IPO and a direct placement is that when a company is placed directly, it is not looking to get money from investors and therefore does not bring new shares to the market. Rather, it should be made possible for the previous investors to sell their shares in a safe way. In addition, with a direct placement there is no support from investment banks and no prior pricing procedure.
No decision on IPO made yet
A Kraken spokesman told Cointelegraph that no decision has yet been made on whether there will be an IPO. However, if this should happen, the IPO will no longer take place this year, but rather in 2022 at the earliest.
Business valuation of Kraken
Some estimates suggest that Kraken’s goodwill is currently $ 10 billion. According to a Kraken spokesman, however, this rating is very low. Most recently, Bloomberg reported that the American crypto exchange is holding talks about a new round of financing, which could increase the company’s market value to as much as $ 20 billion.
Finanzen.net editorial team
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