Tomorrow, April 14, 2021, Coinbase is scheduled to launch its "IPO" on Nasdaq.
However, this is not a true Initial Public Offering (IPO), because the company does not offer its shares for sale at a certain price.
Therefore, there is not even a placement price: it will simply allow those who already own shares to sell them.
Coinbase on the stock market without an initial public offering
Thus will limit the secondary market, while so far there is no news of a possible new issuance of shares in the primary market.
Therefore, it will be a direct quote without issuing new shares, but simply opening the possibility of selling and buying existing shares to the public.
The goal is not to raise funds, but become a publicly traded company and provide shareholders the opportunity to monetize their shares.
In this way, Coinbase will be the first real cryptocurrency company in the United States to be listed on a stock exchange.
However, the shares will not be available when the exchange opens at 9:30 a.m. EST, but more likely in the middle of the day or in the afternoon, as shareholders have to put them up for sale.
For the same reason, it is not yet known what the initial sale price will be, although some estimates point to a price around $ 400. The final opening price could be determined late at night, or even until Wednesday, when the first real trade takes place.
By listing on the Nasdaq, Coinbase shares can be bought in exactly the same way as Apple or Tesla shares, that is, through a brokerage firm.
Coinbase shares will be traded on the NASDAQ under the symbol COIN and they do not pay dividends, as the company is still in a growth phase and does not currently pay dividends. It could pay dividends in the future, although it seems unlikely that it will in the next few years.
The fact that there will not be many stocks for sale tomorrow, while demand may be strong, suggests that your price may rise above the estimated starting price of $ 400. The market will then regulate the supply, depending on the price reached.