Grocery delivery service Instacart is looking to raise up to $616 million along with selling stockholders in its initial public offering, a regulatory filing showed on Monday.
The San Francisco-based company and its selling shareholders are offering 22 million shares priced between $26 and $28 apiece.
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Like SoftBank‘s chip designer Arm and marketing automation firm Klaviyo, Instacart is expected to list its shares in September as part of a wave of high-profile names testing investor appetite for new listings.
The IPO market has been subdued for a major part of the last two years following Russia’s invasion of Ukraine and the spike in interest rates.
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