Rivian electric truck company will issue an $ 11.9 billion IPO.

Rivian electric truck company will issue an 119 billion.jpegsignature3cfed4dbba8f9d957e9a22c984527962

Rivian showed today that people will "come" even before you pick it up. Today, the A major electric truck maker raised $ 11.9 billion in its first public offering (IPO). It is the largest so far this year and the sixth largest ever on the U.S. exchange. It affects Uber which raised $ 8.1 billion in 2022.

The company, founded in 2009, is now valued at more than $ 77 billion - nearly as much as traditional Ford and General Motors companies. It was briefly valued at $ 104 billion after commencing trading.

Shares were offered at $ 78 per head - above the previously estimated price of between $ 57 and $ 62, indicating a strong commitment to buying. Very good for a company with almost no income from car sales.

I spoke to Maxim Manturov, Head of Investment Research at Freedom Finance Europe, just before the IPO, who explained:

Rivian's two consumer products, the Rivian R1T and Rivian R1S received more than 48,390 pre-orders at the end of September, while its commercial vehicle, Rivian EDV, received large orders and investments from Amazon.

By 2025, Amazon will have 100,000 EDVs, with 10,000 to be purchased by the end of 2022.

Index

    Entering a dominant market: How does Rivian stand against his two main rivals?