Chime's mobile banking platform (CHYM.US) IPO is priced at $24-26 per share, aiming to raise $800 million.

The mobile banking platform Chime Financial (CHYM.US), which provides free accounts and financial tools, announced the terms of its IPO on Monday. The company plans to issue 32 million shares of stock at a price range of $24 to $26 per share (with 19% being a secondary offering), raising $800 million. Based on the midpoint of the proposed offering price range, Chime Financial's fully diluted market value will reach $10.5 billion. Through its extensive product suite, Chime has already established relationships with 8.6 million active members, with 67% of active members relying on Chime as their primary financial relationship as of March 31, 2025. The company believes this will make it the central financial hub for members, positioning Chime as a platform for members to continue depositing their salaries and conducting daily spending. In the first quarter of 2025, its active members on average used Chime for 54 transactions per month, with 75% of these being purchase transactions using Chime-branded debit and credit cards. Chime Financial was founded in 2012 and reported revenue of $1.8 billion for the 12 months ending March 31, 2025. The company plans to list on the NASDAQ under the ticker symbol CHYM. Morgan Stanley, Goldman Sachs Group, Inc., J.P. Morgan, Barclays, Evercore ISI, UBS Group AG, Deutsche Bank Aktiengesellschaft, Piper Sandler, Nomura Securities, and WR Securities are the joint book-running managers for this transaction. Pricing is expected to occur the week of June 9, 2025.