Chewy.com is preparing for its public debut for some time now, finally revealing the target share price under which the upcoming shares of the well-known online pet shop should start the first public sale ever.
Chewy is looking to raise approximately 749 million dollars, which the pet retailer plans to utilize for corporate purposes and working capital. What to expect from Chewy IPO and should you invest in online pet shop shares issued by Chewy.com?
Chewy.com Reveals Target Share Price – Number of Shares and Share Price
Chewy is preparing to issue 41.6 million shares as the public debut is getting closer. Chewy.com had set target share price at the range between 17$ and 19$ per share based on the number of shares and the estimated value of the company.
Out of the total number of shares being issued by the company, 87% of shares would be insider shares.
Chewy.com IPO Date: When Will Chewy.com Go Public?
Based on the latest information found on the scheduled and upcoming list of IPOs waiting to go public on Nasdaq, Chewy com should become a publicly traded company by June 14th, 2019.
The offer amount stated on the Nasdaq list is said to be 908.96 million dollars, while the thicker for Chewy public appearance should be CHEWY.
Chewy IPO Value, Estimates and Finances
Chewy.com actually seems to be doing rather well when it comes to increasing net profits and decreasing losses in the past year. That is how Chewy reported 3.5 billion dollars in sales for the fiscal year 2018. Revenues increased from 2.1 billion in sales for the fiscal 2017.
The company also recorded 268 million dollars in losses for 2018, decreased from 338 million dollars for the period during 2017.
Previous evaluation for Chewy.com ahead of its IPO was set between the value of 4.15 billion and 4.75 billion dollars.