Chime Financial Set for Blockbuster $11.6B Fintech IPO Amid Strong Investor Demand

Neobank pioneer Chime Financial begins trading on Nasdaq today under the symbol ''CHYM'', marking one of the most anticipated fintech debuts of 2024. The company priced shares at $27 - above its target range - reflecting robust institutional appetite for disruptive financial services platforms.

With $864 million raised through the sale of 32 million shares, Chime''s initial $9.8 billion valuation could swell to $11.6 billion if underwriters exercise options. Morgan Stanley, Goldman Sachs and JPMorgan lead the offering, betting on Chime''s digital-first banking model to resonate with public market investors.

The IPO arrives as Circle Internet Group''s recent public debut tests market sentiment toward fintech innovators. Chime''s premium pricing suggests investors remain bullish on neobanks despite macroeconomic headwinds, with the company positioned to capitalize on the secular shift away from traditional banking infrastructure.