Financial Insights

World’s Biggest IPO Of 2021: Rivian Automative Valued At Over $100 bn in Debut

Rivian Automotive Inc. shares rose 53% on Wednesday’s Nasdaq debut, and Amazon-backed electric vehicle makers have gained more than $ 100 billion in market capitalization after the world’s largest initial public offering this year.

Rivian shares closed at $ 100.73, up nearly 30% from the asking price.

This made Rivian the second most valuable US car maker after Tesla, worth US $ 1.6 trillion.

Libyan has just begun selling cars and little sales have been reported, but Libyan is ahead of General Motors for $ 86.50 billion, Ford Motor Company for $ 77.37 billion and Lucido Group for $ 65.96 billion.

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