RCRRF - NYSE sets $18-a-share reference price for ZipRecruiter's Wednesday direct listing

The New York Stock Exchange set an $18-a-share reference price late Tuesday for job-hunting platform ZipRecruiter (ZIP), which is set to go public Wednesday via a direct listing.Certain ZIP shareholders plan to offer the public as many as 86.6M Class A shares, although unlike traditional initial public offerings, direct listings have no official pricing. The NYSE issues a “reference” price to give investors some idea of where it thinks shares will start trading, but the public simply bids what it wants and trading will begin as soon as selling shareholders accept a price.ZIP had a $1.5B valuation as of a 2018 fundraising round, but seems likely to have gone up in value since then. Pre-IPO backers include Institutional Venture Partners and Wellington Management.The company competes with the likes of Microsoft-owned LinkedIn and Indeed.com, which is owned by Japan’s Recruit Holdings (RCRRF).

For further details see:

NYSE sets $18-a-share reference price for ZipRecruiter’s Wednesday direct listing