Airbnb Approves 2-for-1 Private Stock Split As Share Value Rips Higher, Report Says

snagarajan@businessinsider.com (Shalini Nagarajan), Business Insider
Tue, 10/27/2020 - 1:42am

Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images Airbnb's board has approved a 2-for-1 private stock split as the value of its shares has ripped higher, Bloomberg reported.The stock split, which comes into effect on Tuesday, would make it easier for retail investors to participate in the company's initial public offering because of the lower cost of each share.The value of the home-rental app's privately-held shares have climbed 10.4% since the end of the second-quarter.Airbnb plans to raise roughly $3 billion through its IPO in December, giving it a valuation of more than $30 billion.Visit Business Insider's homepage for more stories.Airbnb has approved a 2-for-1 stock split for privately held shares ahead of its initial public offering slated for December, Bloomberg reported on Sunday.The home-rental app told some of its shareholders in an e-mail that beginning Tuesday, they will receive two shares for every one they own.

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