Coinbase has selected the Nasdaq exchange for its planned listing on the stock market, according to The Block , citing sources.
On January 25, the Coinbase Limited Secondary Securities Market was opened on the Nasdaq Private Market, giving shareholders the opportunity to sell them. According to one of the sources, the shares were quoted at a price of $ 200. With an issue volume of 254 million shares, this assumes a starting capitalization of about $ 50 billion.At the FTX exchange, Coinbase share contracts are traded for about $ 277, and the estimated capitalization is closer to $ 70 billion.
The selection of Nasdaq as the listing site is remarkable. One of Coinbase’s investors is the New York Stock Exchange, which participated in its $ 75 million round of fundraising in 2015.
In total, to date, Coinbase has raised over $ 500 million. The company plans to go through a direct listing , which, unlike an IPO, does not involve raising additional funding or issuing new shares. Usually this option is chosen by companies wishing to provide their investors with access to liquidity.