AIRBNB FILES PRELIMINARY PAPERWORK FOR PUBLIC STOCK OFFERING

Airbnb filed preliminary paperwork to sell company stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing business.

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The San Francisco company said it submitted a draft registration statement to the Securities and Exchange Commission. It kept details in the statement confidential.

Airbnb said Wednesday that the number of shares in the company it plans to sell and their price hasn’t yet been determined. The timing of the IPO also hasn’t been set.

Airbnb, which was founded 12 years ago, has long been expected to go public. Its CEO, Brian Chesky, told The Associated Press this summer that he was working on the IPO documents when the coronavirus pandemic hit the U.S. in March.

The Wall Street Journal reported last week that the company was close to the filing.