Airbnb (AIRB) is set to hire Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) as joint lead advisers on its planned stock market flotation next year, Reuters reports. The appointments would represent another high-profile assignment for the investment banks, albeit potentially less lucrative because Airbnb is leaning toward going public through a direct listing rather than an IPO. In a direct listing, no new shares are sold, and the role of the investment banks is more of one advising on market conditions vs. underwriting.
Airbnb Looking at Direct Listing and Not IPO
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