By Colin KellaherThe parent of grocery-delivery app Instacart on Friday raised the proposed price range for its planned initial public offering of 22 million shares to $28 to $30 apiece from a prior target of $26 to $28. The Wall Street Journal reported late Thursday that the move, which would value Instacart at nearly $10 billion on a fully diluted basis at the high end, was coming following the successful IPO of British chip designer Arm Holding. Maplebear, as the Instacart parent is formally known, said in a filing with the Securities and Exchange Commission that it would sell 14.1 million shares in the offering, while current investors plan to unload 7.9 million shares. Maplebear has applied to list its shares on the Nasdaq Global Select Market under the symbol CART. Write to Colin Kellaher at colin.kellaher@wsj.com(END) Dow Jones NewswiresSeptember 15, 2023 07:05 ET (11:05 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal September 15, 2023 11:12 UTC