SoFi Technologies Reported PrimaryBid Deal Could Put SOFI Stock Back in the IPO Race
SoFi Technologies Inc. is set to acquire the majority of PrimaryBid, Sky News said Monday, putting the U.S. digital lender in the thick of the battle over IPO access for retail investors. Sky’s report, linking SoFi to the British fintech known for its work on retail share offerings, was picked up by MarketScreener and StreetInsider just after noon in New York. SoFi’s push to expand past its core consumer lending and banking business comes as retail investors get targeted for major IPOs. The company is chasing more lucrative fee-based services. SOFI stock climbed roughly 1.7% to $16.02 by midday, with trading volume approaching 39.5 million shares, according to market data.