Luxury goods marketplace POSHMARK and mobile gaming company PLAYTIKA both plan to employ auction-like direct order entry processes to help maximize the prices of their IPOs in the coming week, the latest sign that technology companies are more broadly embracing alternatives to the much-maligned traditional IPO bookbuild. Meanwhile, fast-growing gaming platform ROBLOX revealed late on Wednesday it had ditched plans for a US$1bn NYSE IPO originally expected in December and had instead raised US$520m privately ahead of a planned direct listing. Following in the footsteps of the Unity Software, Airbnb and DoorDash IPOs last year, Poshmark is set to employ a "hybrid auction" or direct order entry process when it prices an up to US$257.4m Nasdaq offering post-close on Wednesday, January 13.
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