Roku files for IPO

Video streaming device maker Roku  has filed for an initial public offering of shares of its Class A common stock. Roku has applied to list its Class A common stock on the NASDAQ Global Select Market under the ticker symbol “ROKU.”

The number of shares to be offered and the price range for the proposed offering have not yet been determined.Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are acting as lead bookrunners for the proposed offering.

When connected to a TV, Roku devices provide access to a host of streaming video services from Netflix, Amazon and Hulu among others. According to Roku’s filing, the company had 15.1m active accounts as of 30 June 30. These users streamed more than 6.7bn hours on the Roku platform in the six months ended 30 June 2017, 62 per cent on the six months ended 30 June, 2016.