Maplebear Inc., also known as Instacart, announced on Monday that the price of its common stock in the company's upcoming initial public offering is estimated at between $26 and $28 per share.
The grocery delivery firm will offer 14.1 million common shares of common stock while selling stockholders will be making available another 7.9 million of their shares in Instacart's stock market debut. The company will start trading on the Nasdaq Global Select Market under the symbol "CART" but still did not disclose the exact date for the IPO.
Instacart is looking to raise as much as $616 million in the IPO, meaning that the market value could reach $9.3 billion, according to CNBC.
