Bloomberg has reported that San-Francisco-based digital exchange Coinbase spearheaded by Brian Armstrong has decided to conduct its direct listing in April instead of March, according to anonymous sources.
The plans to go public this month have been reviewed.
Coinbase’s stock listing to happen in April
Earlier this week, almost 115 million of its shares (under the “COIN” ticker) has been registered on the Nasdaq platform by Coinbase investors where the listing will take place.
Initially, the company filed for a direct listing (as opposed to a regular IPO) on February 25 to start trading shared in March.
However, plans have undergone a change and the listing will occur in April. The Coinbase spokesperson has not given any comments on that so far.
How things work in a direct listing
Direct listing allows investors to start dumping their holdings once the company they bet on begins trading. In the case of an IPO, they have to wait for up to half-a-year.
Among Coinbase investors is Andreessen Horowitz and other major companies. For the Nasdaq, this is expected to be the first big-scale direct listing.