American electric car manufacturer Rivian raised $ 12 billion in IPO Tesla Elon Musk raised $ 11.9 billion during the initial public offering (IPO), CNBC writes.
The results of the IPO surpassed forecasts and were a blow to Tesla. Rivian sold 153 million shares (planned 135 million) at $ 78 per share, although it originally intended to sell them at a price of $ 72-74. Rivian shares will begin trading on November 10 on the Nasdaq under the ticker RIVN. The market capitalization of the company will approach $ 70 billion, which is close to the value of Ford Motor Company ($ 80 billion).