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Report: Airbnb to hire Morgan Stanley, Goldman Sachs for direct listing

Airbnb Inc. plans to hire investment banks Goldman Sachs Group Inc. and Morgan Stanley as joint lead advisers for its public flotation next year, Reuters reported Oct. 2, citing sources familiar with the matter.

The home-share startup is reportedly eyeing a direct listing instead of a traditional IPO. It is looking to go public around the middle of 2020 to avoid any stock market volatility ahead of the U.S. presidential election in November next year, according to Reuters.

Among the companies that have opted to go public via a direct listing are music streaming company Spotify Technology SA and workplace messaging firm Slack Technologies Inc. Shares in both companies have traded down about 23% and 39%, respectively, since their market debut, the report said.

Airbnb, Goldman Sachs and Morgan Stanley did not immediately respond to S&P Global Market Intelligence's request for comment.