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Digital banking startup Chime Financial said on Monday it was targeting a valuation of up to $9.47 billion in its initial public offering in the U.S.
San Francisco, California-based Chime and some of its existing shareholders are seeking to raise up to $832 million by offering 32 million shares priced between $24 and $26 apiece.
The U.S. IPO market has sprung back to its feet after a disappointing April as equities rebounded amid easing volatility, paving the way for companies to go public after tariff-driven chaos shut the window for weeks.
Morgan Stanley, Goldman Sachs and J.P. Morgan are the lead underwriters for the offering. Chime will list on the Nasdaq under the symbol ‘CHYM’.
