The former Ripple Director suggests that Ripple's potential early public offering (IPO) could be a groundbreaking event given its estimated rating.
In a post yesterday, Sean McBride estimated that Ripple's recent tender offer indicates that the company is valued at $30 billion.
The biggest IPO in history
McBride has derived the estimate after Ripple discloses plans to buy back $700 million worth of shares at a fixed price of $175 each. Sources have revealed that Ripple has announced its buyback initiative in an emailed statement to existing shareholders.
In particular, McBride has derived an estimate of $30 billion by multiplying Ripple's $175 per share offer by the total number of outstanding shares. According to McBride, if Ripple chooses to publish through an IPO with an estimated $30 billion valuation, that's the biggest in history.
Data from Renaissance capital shows that Saudi Arabia held the title of the largest global IPO in 2019, raising approximately $25.6 billion in 2019. The September 2014 IPO ranked in the second position, raising approximately $217.6 billion.
With Ripple's estimated rating of $30 billion, McBride suggested the company could surpass all IPOs in history. He describes the $30 billion valuation as “Unreal,” highlighting how extraordinary such feats are when Ripple submits an IPO at that level.
Ripple IPO Latent Timeline
Speculation about Ripple's potential IPO has escalated recently, with several experts predicting when the company will be made public.
Last year, McBride predicted that Ripple could potentially apply for a non-US IPO by 2025. At the time, McBride was Secv. We made predictions during the peak of the Ripple lawsuit.
Additionally, well-known financial expert Linda P. Jones speculated that Ripple IPO could occur later this year. However, in a recent update to McBride, he emphasized that Ripple will not submit an IPO any time soon.
While major crypto-centric companies like Circle and Coinbase are open to the public, Ripple doesn't prioritize IPOs for significant cash reserves.
Instead, it focuses on growing the business at $1.25 billion, as reflected in the recent acquisition of Hidden Road. Ripple also attempted to get a major Stablecoin Issuer Circle before raising $1.14 billion before the company was made public.
