The value of shares of the electric car manufacturer Rivian rose on the first day of trading , after the IPO was valued at $ 86 billion by the end of the first day of trading. The share price soared 29 percent from its original price, according to data from the Nasdaq exchange. Now the securities are trading at $ 108 per share.
The company raised $ 12 billion, making it the largest placement in the US this year, Rivian's capitalization, including options, exceeded $ 100 million, CNBC notes. Rivian has priced its shares at 78 per share. At the time of the opening of trading, they cost $ 106.75.
Rivian filed for an IPO in August 2021; on November 10, the company began trading on the Nasdaq exchange under the ticker RIVN. To date, Rivian has produced about 100 electric vehicles and promises to ship 1,500 to customers by the end of the year. By 2023, she expects to produce 150 thousand cars a year. The electric vehicle manufacturer is supported by international companies Amazon and Ford. According to CNBC, Amazon's 20 percent stake is now worth about $ 17 billion, while Ford's 12 percent stake is valued at over $ 10 billion. Amazon previously announced that it would switch its fleet to renewable energy vehicles and ordered the delivery of 100,000 Rivian electric vehicles by 2030. Rivian has also launched the all-electric R1T pickup truck. The seven-passenger R1S electric SUV is slated to launch in December.