Airbnb’s IPO is expected to price above the anticipated range, The WSJ reports

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Airbnb Inc.’s

much-anticipated initial public offering is expected after Wednesday’s close to price above the expected range, according to a report in The Wall Street Journal. The stock is expected to begin trading on Thursday, the WSJ report said. Earlier this week, the San Francisco-based home-rental company had raised the expected pricing range of its IPO to between $56 and $60 a share from between $44 and $50 a share. The expected IPO pricing would value Airbnb at more than $42 billion, the WSJ report said. Late Tuesday, no less than three initial public offerings from DoorDash Inc.
, Inc.

and PubMatic Inc.

all priced above their expected ranges. Investor demand for IPOs has been strong this year, as witnessed by the 39.3% surge in the Renaissance IPO ETF

year to date, compared with the S&P 500’s

8.8% gain.

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