Digital banking startup Chime Financial said on Monday it was targeting a valuation of up to $11.2 billion on a fully diluted basis in its long-awaited New York initial public offering, underscoring the growing momentum in the new listings market.
San Francisco, California-based Chime and some of its existing shareholders are seeking to raise up to $832 million by offering 32 million shares priced between $24 and $26 apiece.
Chime is offering 25.9 million shares in the offering, while certain shareholders, including venture capital firm Cathay Innovation, are putting up 6.1 million shares.
The U.S. IPO market has sprung back to its feet after a disappointing April as equities rebounded amid easing volatility, paving the way for companies to go public after tariff-driven chaos shut the window for weeks.
Recent listings, including retail trading platform eToro , have been well-received by investors. Analysts say the stage is set for a broader IPO pickup, but stability needs to last longer before the window fully reopens.