11/1/2021, 8:11 PM (Source: TeleTrader)
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Rivian aims for $60 billion IPO valuation - report

Rivian Automotive, Inc. is expecting to reach a $60 billion valuation upon going public, The Wall Street Journal reported on Monday, citing sources familiar with the matter.

The electric vehicle maker will disclose the valuation target in a filing later during the day, the outlet explained. Inc.-backed startup is expected to have an initial public offering (IPO) next week, under the symbol RIVN. Another report, published by CNBC, signaled that Ford Motors holds a 12% stake in the company.

Baha Breaking News (BBN) / BU