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Bezos-backed Rivian revs up for $65bn valuation in IPO
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The Jeff Bezos-backed electric carmaker Rivian is aiming for a market value of $65bn (£48bn) when shares start trading in New York on Wednesday, in one of the biggest-ever stock market floats.
Rivian announced late on Tuesday that its shares would start trading at $78 each, significantly above the $52 a share lower end of the range it had first targeted. It sold 153m shares, more than the 135m it aimed for initially.
The increased offer price means Rivian will raise $11.9bn, putting it among the
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