From Yahoo Finance: 2025-06-02 06:19:00

Digital banking startup Chime Financial aims for a valuation of up to $11.2 billion in its New York IPO. Seeking to raise $832 million, Chime plans to offer 32 million shares priced between $24 and $26 each, with 25.9 million from Chime and 6.1 million from existing shareholders.

The U.S. IPO market is rebounding after a turbulent April, with recent listings like eToro garnering investor interest. Analysts anticipate a broader IPO surge, contingent on sustained market stability post-tariff volatility.

Chime, established in 2012, offers banking services through its app, generating revenue from member transactions. Backed by investors like DST Global and General Atlantic, Chime raised $750 million in 2021 at a $25 billion valuation.

Financial technology IPOs slowed during the pandemic due to rising interest rates and inflation. Klarna delayed its U.S. IPO amid global market uncertainty. A successful Chime IPO could signal a revival for fintech listings, enticing other companies to go public.

Chime’s IPO valuation strategy aims to attract buyers with a discount, potentially setting a precedent for future fintech offerings. With Morgan Stanley, Goldman Sachs, and J.P. Morgan as lead underwriters, Chime is set to list on the Nasdaq under the symbol ‘CHYM’.

Read more: Digital banking startup Chime targets $11.2 billion valuation in US IPO