All articles tagged with #chime ipo
Chime Financial's IPO priced above expectations at $27 per share, leading to a 48% increase in its stock price on debut, raising $864 million and valuing the company at $11.4 billion. Despite strong revenue growth and high margins, Chime remains unprofitable, with significant losses reported in recent years. The company operates a digital banking platform targeting under-served consumers, leveraging banking partners for FDIC insurance.
Chime Financial priced its IPO at $27 per share, above its expected range, raising approximately $864 million, with shares to begin trading on NASDAQ under the ticker 'CHYM'. The company offers fee-free banking services and had delayed its IPO due to market conditions, but the recent thaw in fintech IPOs has led to this successful offering.
Chime Financial is preparing to go public with an IPO expected to price between $24 and $26 per share, potentially valuing the company at around $9.5 billion. The IPO comes amid strong demand for fintech offerings, following recent successful IPOs like Circle and Voyager Technologies. Chime, popular among young consumers for its low-fee financial products and rapid growth, aims to capitalize on the renewed investor interest in digital banking, with its stock expected to debut on Nasdaq under the ticker CHYM.