NEW YORK (BLOOMBERG) – Airbnb, within hours of DoorDash nearly doubling in its trading debut, priced its initial public offering (IPO) above a marketed range to raise about US$3.5 billion (S$4.68 billion), according to people familiar with the matter.

The home-rental company’s IPO – anticipated for years by eager investors – tops DoorDash’s US$3.37 billion offering as a flurry of consumer-facing web-based companies going public this month continues. Airbnb’s listing adds to what was already a record year for IPOs, with more than US$163 billion raised on US exchanges, according to data compiled by Bloomberg.

Airbnb and its investors are selling about 52 million shares on Wednesday for US$68 each after marketing them for US$56 to US$60 each, said the people, who asked not to be identified because the information wasn’t public yet. At that price, Airbnb has a fully diluted value of about US$47 billion (S$62.8 billion), which includes employee stock options and restricted stock units.

A representative for Airbnb declined to comment.

Other companies lined up for IPOs this month include video-game company Roblox Corp, installment loans provider Affirm Holdings and ContextLogic, the parent of online discount retailer Wish Inc.

San Francisco-based Airbnb had seen a bounce back in domestic bookings since the early days of the pandemic crushed demand.

Morgan Stanley and Goldman Sachs Group are leading the IPO. Shares of Airbnb are expected to begin trading on Thursday on the Nasdaq Global Select Market under the symbol ABNB.