Global-e launches NASDAQ IPO as cross-border e-commerce booms
Global-e, the cross-border e-commerce specialist, has launched its initial public offering that will see it listing on NASDAQ in the US.
The company, whose platform is the market leader in enabling and accelerating direct-to-consumer e-commerce across borders, has offered 15 million of its ordinary shares in the IPO. And it expects to grant the underwriters a 30-day option to purchase up to an additional 2.25 million ordinary shares at the IPO price, less underwriting discounts and commissions.
The IPO offering price is expected to be between $23 and $25 per share and the shares will be listed under the ticker symbol GLBE.
It’s a good time for the firm to list given what has happened in the past year. E-commerce has accelerated globally (with a United Nations report only last week saying it now makes up almost a fifth of all retail sales worldwide).
Importantly, with global tourism still suppressed by the ongoing fight against the coronavirus, cross-border e-tail has become ever more important as many consumers remain able to travel.
Eight-year-old Global-e works with over 440 global brands and retailers across the US, Europe and Asia, with the aim of making selling internationally as simple as selling domestically.
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