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Rivian Automotive is targeting an IPO value of just over $ 60 billion

Rivian Automotive Inc. is targeting a low $ 60 billion valuation on its IPO next week, one of the largest and most anticipated deals in a blockbuster year for new issues.

The electric vehicle startup, backed by Amazon.com Inc., plans to disclose the targeted rating in an updated regulatory filing later Monday, according to people familiar with the matter. The roadshow for corporate executives and their underwriters to introduce the shares to potential investors begins Tuesday, and the shares are set to trade under the symbol RIVN on the Nasdaq stock exchange next week.

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