Airbnb is close to filing to go public after travel rebound: sources

Airbnb plans to file paperwork for a stock market listing in the next few weeks paving the way for its shares to start trading as soon as the fourth quarter, according to people familiar with the matter.[NEW YORK] Airbnb plans to file paperwork for a stock market listing in the next few weeks paving the way for its shares to start trading as soon as the fourth quarter, according to people familiar with the matter.

The San Francisco-based company is preparing to submit documents confidentially with the US Securities and Exchange Commission for an initial public offering , said the people, who asked to not be identified discussing private information. The long-awaited move would represent a swift comeback for the home-sharing startup after the coronavirus pandemic sent the travel industry into a tailspin.reported earlier that Airbnb was planning to file paperwork later this month.

Airbnb is working with Morgan Stanley and Goldman Sachs Group on its IPO, according to a person familiar with the matter. Morgan Stanley and Goldman Sachs declined to comment. Chief executive officer Brian Chesky had originally wanted to take the initial steps towards a listing in March, but his plans were nixed by Covid-19. By April, Chesky was facing US$1 billion in cancellations, he said in an interview with Bloomberg TV in June. Travel bans and lock-downs caused planned bookings to tumble about 90 per cent and Airbnb cut 25 per cent of its workforce in a bid to survive.

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