- Instacart ( ICART ) is said to not plan to issue many new shares in its in initial public offering and instead most of the listing will come from the sale of employees' shares.
- The grocery delivery firm has told investors in meetings in recent weeks about its plan for IPO that will allow Instacart's staff to cash out some of their stock, according to a WSJ report, which cited people familiar.
- The news comes after a WSJ report in late July that Instacart ( ICART ) was said to be targeting an IPO before the end of the year. Instacart is still leading toward a traditional IPO, rather than a direct listing, which it had previously been considering.
- In May Instacart ( ICART ) said it confidentially filed a draft document for an IPO of the grocery delivery company.
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Instacart said to plan to focus IPO on selling employee shares