Airbnb to float on the stock market

The short letting platform Airbnb have announced they are planning to list on the stock market, as they have now moved forward after filing confidential registration documents with US market regulators.

Investor confidence has renewed despite the impact of the global pandemic and Airbnb are confident the business “will fully recover.”

If the stock listing does go ahead this year, then this will be one of the largest share sales of 2020. Airbnb have not revealed any details over the timing of their plans or how much they intend to raise.

The S&P 500 index which is the US stock market have seen a surge in recent months and have seen a record high this week.

In April Silver Lake Partners and Sixth Street Partners invested $1bn to help Airbnb through the pandemic, through a combination of debt and equity.

The company has seen an increase in bookings between May and June and are optimistic of their financials and the usage of the platform, according to TechCrunch.