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: Roblox direct listing gets $45 reference price from NYSE

Economy, Finance

Roblox Corp. RBLX scored a reference price of $45 a share from the New York Stock Exchange late Tuesday as the tween-centric gaming platform prepares to go public through a direct listing on Wednesday. On the NYSE’s website, the exchange said the company’s stock will begin trading under the ticker “RBLX” on Wednesday, adding that the reference price is not an offering price, which will be determined by buy and sell orders collected from broker-dealers. Direct listings differ from initial public offerings because they are not backed by underwriters as current stakeholders convert their ownership into stock based on trading prices in private markets. In its latest filing, Roblox said that nearly 199 million shares will be available for resale. The public debut of Roblox has been anticipated since word of an IPO began circulating in October.

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