The investment company added the purchased securities to its three ETFs.
Investment companyARK Investment Management acquired 749.2 thousand.shares of the cryptocurrency exchange Coinbase in the amount of $ 246 million after their listing on the NASDAQ stock market, Bloomberg reports. According to the publication, the securities were divided into three ETFs, which are managed by the company. The ARK Innovation ETF received 512,500 shares, the ARK Next Generation Internet ETF now owns 147,000 shares, and the ARK Fintech Innovation ETF owns 89,500 shares.
Coinbase Stock Trades Launched On NASDAQ 14April. Immediately after the opening of trading, the price of the securities was $ 381, with a set reference price of $ 250. Within a few hours, the shares rose by 12.5% to $ 429.5, but then quotations began to decline and reached a local minimum of $ 315. The closing price was $ 328.28, as of April 15 12:25 Moscow time on the US premarket, the securities are traded at $ 344.
Coinbase has chosen to bypass the option of going publicIPO procedures, through direct listing. Unlike an IPO, in this case the company does not issue new securities; existing shares of investors and employees are sold on the exchange. This allows you to reduce the cost of investment banking services.
Previously, Coinbase distributed 100 shares of the company to each of its employees. In terms of the actual value of securities, the site employees received $ 34.4 thousand each.
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Coinbase stock price was $ 250, employees received 100 shares
The SEC has given the go-ahead to listing Coinbase shares.
Coinbase will be listed on April 14