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Popular Online Game Developer Roblox Goes Public in Rare Direct Listing


Popular Online Game Developer Roblox Goes Public in Rare Direct Listing
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Digital games company
Roblox Corp., transformed into a cultural icon during the coronavirus pandemic, made its public debut Wednesday with its shares rising 7.8% from its opening price.
Roblox is one of the few companies that have gone public through a direct listing, an alternative to an initial public offering in which the shares begin trading without the company issuing new stock.
The company’s shares, which opened trading at $64.50 apiece, closed at $69.50 in New York, giving Roblox a market value of more than $38 billion. The company’s fully diluted valuation, including restricted stock units and employee options, is about $45 billion, making it one of the most valuable companies to go public during the pandemic. ....

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Roblox direct listing reference price is set at $45


Roblox direct listing reference price is set at $45
Roblox’s shares will begin trading Wednesday on the New York Stock Exchange without the company raising any capital.
(Mark Lennihan / Associated Press)
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The New York Stock Exchange set a reference price of $45 for the direct listing of Roblox Corp., the online games company that originally planned to go public via a traditional initial public offering.
The exchange disclosed the price in a statement Tuesday, confirming an earlier report by Bloomberg News.
Roblox’s shares will begin trading Wednesday without the company raising any capital. As with previous direct listings, the company won’t issue new shares at a set price. Instead, current investors can simply begin selling shares based on demand when trading opens. ....

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