Coinbase will list on the Nasdaq on April 14
Coinbase, the largest cryptocurrency exchange in the United States, has previously revealed that it is preparing to go public. The latest news released by the company stated that it will officially go public on April 14.
As the first cryptocurrency exchange listed on the U.S. stock market, the company has also attracted much attention, and the company has not sought sponsorship from investment banks and underwriters like traditional companies.
There is even no official release price. Investors can trade directly after listing on Nasdaq. Of course, Coinbase will draft a reference price.
This is an innovative approach for the U.S. stock market and even the global stock market, which can also avoid paying relatively high marketing expenses to investment banks and underwriters.
The Nasdaq Stock Exchange is divided into a capital market segment, a global market segment, and a global select market segment. The global select market also has the highest threshold.
This time, Coinbase can directly land on the Nasdaq Global Select Market, which shows the strength of the company and the expectations of global investors for the company.
In fact, the corporate governance standards of different sectors are exactly the same, but the requirements for financial standards and liquidity standards of the listing rules of different sectors are quite different.
Coinbase cryptocurrency exchange is indeed different from regular companies. For example, Coinbase’s overall marketing expenses are extremely low because users participate spontaneously.
The profitability of cryptocurrency exchanges is actually very stable, mainly by charging transaction fees, so the essence may be related to the activity of the cryptocurrency market.
Obviously, the rising price of Bitcoin is beneficial to cryptocurrency exchanges. In turn, the price-to-earnings ratio of Coinbase may also affect the price of Bitcoin.
According to the official announcement, Coinbase’s Class A common shares will be listed on Nasdaq on April 14. The company’s stock code is COIN and there is no specific purchase price.
At the same time, the company will hold a conference call in the United States on April 6 to discuss the expected performance of the 2021 Q1 quarter, and also provide the financial outlook for 2021.
Interested investors can check the timetable on the company’s investor website, and replays of the meeting and related data will also be announced on the website.