Pinterest is About to Debut and Wall Street is Getting Anxious

One of the most highly awaited IPOs is Pinterest, which is valued over $1 billion, and it is debuting on the New York Stock Exchange this Thursday.

The company will be trading under the ticker symbol “PINS.”

Pinterest announced its initial public offering at $19 late Wednesday.

The company’s press release read: Pinterest, Inc. (“Pinterest”) today announced the pricing of its initial public offering of its Class A common stock at a price to the public of $19.00 per share. Pinterest is offering 75,000,000 shares of its Class A common stock, plus up to an additional 11,250,000 shares that the underwriters have the option to purchase. The shares are expected to begin trading on the New York Stock Exchange on April 18, 2019 under the symbol “PINS” and the offering is expected to close on April 23, 2019, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Allen & Company LLC are serving as lead joint book-running managers for the offering. BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC. are also acting as book-running managers for the offering. Robert W. Baird & Co. Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC are serving as co-managers for the offering.

Researh firm Morningstar has said that users “access Pinterest with the intention of not only discovering ideas or products but also purchasing them immediately or in the future, we think the firm can attract more online ad dollars.”

The firm called the company, “an attractive investment opportunity,” and said that it “can attract various types of ad campaigns through the marketing funnel… We think opportunities exist for the firm to gradually increase its share of the U.S. digital advertising market.”