Economy

Roku IPO: Group prices shares at $14 for upcoming IPO

Roku IPO: Group prices shares at $14 for upcoming IPO”

Now the device and software maker is asking investors to buy into a new, advertising-driven era via its initial public offering.

The streaming device company said late Wednesday that it intends to sell $219 million of shares, priced $14 each. This gives Roku a total market capitalisation of around Dollars 1.3 billion. Morgan Stanley, Citi, Allen & Company and RBC Capital Markets acted as lead managers on the deal.

The company is poised to capitalize on the popularity of streaming content.

The boom has spurred traditional outlets like Disney and tech giants like Amazon to invest heavily in streaming services.

Roku is best know for selling low-priced boxes that allow consumers to stream Netflix, YouTube and other streaming video services to their televisions. The company recently disclosed in a statement to the Securities and Exchange Commission that it will be registering about 18 million shares. This puts the company's valuation at $1.3 billion. Roku generated $199.7 million in revenue during the first half of this year, up 23% from $162.3 million during the same time last year.



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