The official filing date for the Asana IPO is August 24, 2020, though they confidentially began the process back in February. The SEC has approved the draft registration paperwork and noted it on their website. We don’t yet know when the privately held shares will move from the secondary market to the NYSE.
But Asana has officially filed their S-1 (just like Airbnb recently did) with the SEC’s approval, so the details will soon be forthcoming. And unlike Airbnb, Asana was fully open with their plans to take the direct listing route from the get-go. The Asana IPO is a direct listing. A direct listing is a type of IPO, but the process differs.
The Asana IPO is taking the form of a direct listing. This means they’re not using an underwriter nor creating new shares ; instead, existing shareholders will sell a certain portion of their ownership to the public based on secondary market valuation. Eventually, Asana will be listed on the New York Stock Exchange.
When is asana going public?
Asana was a private company for 12 years and finally decided to go public in 2020. IPOs are known as a great way for investors to make a big profit in a relatively short time or ride the wave of a company’s success from the very start if they believe in the company’s long-term success.
The most usefull answer is, Even successful, established businesses can remain private for decades or never go public. Asana was a private company for 12 years and finally decided to go public in 2020.
While reading we ran into the query “When will asana list on the NYSE?”.
Asana filed its S-1 last week and is expected to list directly on the NYSE in late September. The company ranks at No. 17 in this year’s Forbes Cloud 100, the annual ranking of the world’s top private cloud-computing companies, up from No. 41 a year ago.
Asana said it has more than 75,000 paying customers and more than 1.2 million paid users as of January 31, 2020. Asana plans to list its stock on the New York Stock Exchange, which is also were Slack and Spotify hosted their direct listings last year.
Asana made its public debut through a direct listing with ticker ASAN. Based in San Francisco, Asana is a project management software company founded by ex-Facebookers.
Is Asana a publicly traded company?
Something is loading. Asana, a buzzy workplace collaboration startup created by one of Facebook’s cofounders more than a decade ago, filed paperwork Monday to become a publicly traded company through the novel “direct listing” process.
Asana opted for a direct listing, rather than the traditional initial public offering (IPO) as the vehicle for its entry into public markets. The direct public offering (DPO) has several distinct advantages for companies, especially those that don’t need to raise capital.
Despite its incrementally increasing valuation, Asana had yet to report profitability as of the most recent fundraising round. The Asana IPO is news right now, but the process has been ongoing for months. Back in February of 2020, when the stock market hit its lowest since the Great Recession, the company began the SEC process in confidence.
If Asana succeeds in convincing more paying customers that its software and tools are superior to the competition, the company will be on track to profitability and emerge as one of the most ambitious players in the collaboration and productivity space.
Is Asana stock a buy at $27?
Asana stock opened at a share price of $27, which was 22% above the reference price of $21 per share set by the NYSE. Asana’s valuation is $3.99 billion, compared to direct competitor Slack Technologies, Inc.’s ( WORK) $13.76 billion.
What is Asana (Asan)?
Based in San Francisco, Asana is a project management software company founded by ex-Facebookers. In a first for the New York Stock Exchange (NYSE), Asana was one of two direct listings by high-profile companies on the same day – the other one was Palantir Technologies, Inc. ( PLTR ).