Financial service and online brokerage company Robinhood is planning to file for an initial public offering confidentially in the month of March. This report was first posted on Bloomberg business news.
Citing Bloomberg’s post in the last few weeks the company has been holding talks with several investment banks to act as its underwriter in the IPO set to take place in the next few weeks.
The California based company has been on the lime light this year concerning the retail trading frenzy which included some stocks such as GameStop Corp. (GME) among other stocks.
Reddit and other social platforms were also linked to the astronomical rally of GameStop stock which began towards the end of January. This resulted to Robinhood temporary restricting trading of the stock as an attempt to remedy the situation.
This is not the first time such news of the company going public is making rounds. Last year the company made similar announcement further selecting Goldman Sachs Group Inc. (GS) to act as its advisor in the IPO which would have left the company with a market value of over $20 billion.