Novel Group-backed luxury goods marketplace The RealReal will raise $300m in an initial public offering in which it will float above its range.
The RealReal, a US-based second-hand luxury items reseller backed by telecommunications firm Novel Group, raised $300m in its initial public offering yesterday, issuing 15 million shares priced at $20 each.
The company had targeted a range of $17 to $19 for its shares. It will begin trading on the Nasdaq Global Select Market today, with chief executive Julie Wainwright set to ring the stock exchange’s opening bell. The offering values it at about $1.65bn.
Founded in 2011, The RealReal…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
