US Compass Begins Listing Process on New York Stock Exchange

Source: Forbes

[Asia Economy Reporter Yujin Cho] U.S. real estate brokerage app Compass has begun the process for listing on the New York Stock Exchange (NYSE).

On the 1st (local time), according to U.S. economic media CNBC, Compass submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for the listing.

Compass filed the registration statement under Form S-1 for the listing of Class A common stock. The number of shares and the price range for the public offering have not yet been decided.

Compass was valued at approximately $6.4 billion during its investment round with SoftBank Vision Fund in 2019. SoftBank Vision Fund holds 35% of Compass's Class A shares.

According to the S-1 registration documents disclosed on the day, Compass's revenue last year was $3.7 billion, a 56% increase compared to the previous year. The annual net loss was $222 million, a decrease in deficit compared to $388 million the previous year.

Compass has facilitated 275,000 housing transactions cumulatively, with a total transaction amount of $300 billion.

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