The New York Stock Exchange set a reference price of $45 for the direct listing of Roblox Corp., the online games company that originally planned to go public via a traditional initial public offering.
The exchange disclosed the price in a statement Tuesday, confirming an earlier report by Bloomberg News.
Roblox’s shares will begin trading Wednesday without the company raising any capital. As with previous direct listings, the company won’t issue new shares at a set price. Instead, current investors can simply begin selling shares based on demand when trading opens.