Bengaluru: Electric vehicle maker Rivian Automotive Inc, which is backed by both Amazon.com Inc and Ford Motor Co, said on Friday it was targeting a valuation of nearly $65 billion in its initial public offering in the United States.
The company, which last month disclosed nearly $1 billion in losses for the first half of this year, said it will sell 135 million shares at a price range of between $72 and $74 each.
Morgan Stanley, Goldman Sachs and JPMorgan are the lead underwriters. Rivian will list on the Nasdaq under the symbol “RIVN”.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
