According to recent information, report According to The Information, Ripple Labs last month proposed buying back $1 billion worth of stock at a valuation of $40 billion.
However, the company reportedly had the lowest participation rate ever in this tender offer, with many individual shareholders choosing not to sell their shares.
This clearly shows that investors are confident in Ripple’s long-term potential following its SEC victory and major acquisition spree.
In January 2024, Ripple announced that it would buy back its own shares for US$285 million from early investors/employees who valued the company at approximately $11.3 billion. However, as reported by U.Today, CEO Brad Garlinghouse said the valuation was too low due to the company’s large holdings of XRP.
In June, the San Francisco-based company launched a massive $700 million tender offer at $175 per share.
Will Ripple be listed?
Rumors about a possible Ripple IPO have been swirling for years. However, Ripple President Monica Long rejected the idea of going public.
