By Ateev Bhandari
(Reuters) -Ticket reseller StubHub, which delayed its U.S. listing in April amid market volatility, has drawn over 20 times as many orders for its planned initial public offering as there are available shares, a source familiar with the matter said on Friday.
The outsized demand for the IPO, which is set to price shares on Tuesday, reflects pent-up investor appetite for tech-heavy consumer platforms.
StubHub did not immediately respond to Reuters’ request for comment.
Madrone Partners-backed StubHub had postponed its IPO roadshow earlier this year as U.S. President Donald Trump’s tariffs roiled global markets and froze all dealmaking.
In a stark turn of events, U.S. IPOs have had a triumphant week as companies ranging from crypto to consumer tapped the public markets amid record high equity markets and easing tariff worries.
Swedish buy-now, pay-later firm Klarna’s shares jumped in its long-awaited debut earlier this week, reinforcing bullish investor sentiments for fintechs.
Separately, cafe chain Black Rock Coffee Bar’s shares rose above their issue price earlier in the day, as investors brushed off residual concerns over the consumer company’s health.
StubHub is targeting a valuation of up to $9.2 billion in its U.S. IPO, seeking to raise up to $851 million by offering 34 million shares priced between $22 and $25 each.
The company was co-founded in 2000 by Jeff Fluhr and current CEO Eric Baker, who had exited StubHub ahead of its $310-million sale to e-commerce firm eBay in 2007.
Baker in 2006 launched viagogo, a rival ticket reseller in Europe, which in 2020 bought StubHub from eBay for $4.05 billion.
J.P. Morgan and Goldman Sachs are the lead underwriters of the offering.
StubHub will list on the New York Stock Exchange under the ticker symbol “STUB”.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Shreya Biswas)
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