Coinbase sets reference price of $250 per share ahead of its direct listing
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Cryptocurrency exchange provider Coinbase Global Inc. today set a reference price of $250 a share ahead of its direct stock listing April 14.
The price would value the company at $65.3 billion on a fully diluted basis, presuming 266.2 million shares outstanding but it would be valued at least at $49.19 billion, according to Reuters. Coinbase announced its decision to go public via a direct listing in January before announcing the planned date earlier this month.
Founded in 2012, Coinbase has grown to become the largest U.S. registered cryptocurrency exchange, although it offers more services than simple cryptocurrency buying, selling and wallet functions.