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Deals

Instacart’s $660 Million IPO Meets Goal With Market Rebound

  • Online grocery delivery company has $9.9 billion valuation
  • Shares to begin trading Tuesday in test of investor appetite

The San Francisco-based company sold 22 million shares for $30 each on Monday.

Photographer: Patrick T. Fallon/Bloomberg

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Grocery delivery business Instacart priced its initial public offering at the top of a marketed range to raise $660 million in the second marquee listing in a week.

The San Francisco-based company sold 22 million shares for $30 each on Monday, according to a statementBloomberg Terminal. Instacart and current shareholders had offered the shares for $28 to $30, a range that was elevated after chip designer Arm Holdings Plc rose 25% in its trading debut Thursday after the year’s biggest IPO.

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Instacart’s $660 Million IPO Meets Goal With Market Rebound