Robinhood seeks up to $35 bln valuation in mega U.S. IPO

About 55 million shares are being offered in the IPO, with shares expected to be priced between $38 and $42, the company said. This would raise over $2.3 billion if priced at the top of the range.

NEW YORK: Robinhood Markets Inc is targeting a valuation of up to US$35 billion in its initial public offering in the United States, the company revealed in a Monday filing, setting the stage for one of the most highly anticipated stock market listings this year.

The listing plans come just months after the online brokerage found itself at the center of a confrontation between a new generation of retail investors and Wall Street hedge funds in late January.