Robinhood Markets has taken its first formal role as an IPO underwriter, participating in the listing of smart-ring maker Oura. Oura filed its IPO last Thursday with an expected valuation exceeding $11 billion. Goldman Sachs, Morgan Stanley, and JPMorgan are leading the deal as bookrunners, while Robinhood ranks 18th among 18 underwriters. The company received regulatory approval for underwriting in June, and CEO Vlad Tenev has previously expressed a desire to “disrupt” the IPO market.
Odaily Planet Daily News — Robinhood Markets has taken its first formal role as an IPO underwriter, joining smart-ring maker Oura's listing. Oura filed its IPO last Thursday, with an expected valuation north of $11 billion.
Goldman Sachs, Morgan Stanley, and JPMorgan are serving as lead bookrunners, with Robinhood ranking 18th among the 18 underwriters on the deal. The company secured regulatory approval to underwrite IPOs in June, and CEO Vlad Tenev has previously said he wants to “disrupt” the IPO market.
By becoming an underwriter, Robinhood could gain more influence over the allocation of IPO shares to its retail clients. (The Wall Street Journal)
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