Pinterest valued at $12.6bn ahead of float

Thu, Apr 18th 2019, 01:57 PM

It will start selling its shares at $19 each, giving the loss-making firm a market value of $12.6bn (£9.7bn).

Pinterest is yet to make a profit and admitted in its flotation documents it may never report income.

It will begin trading on the New York Stock Exchange on Thursday.

Pinterest had originally set a price range of between $15 and $17 each for its shares.

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