Temasek-backed Indian unicorn Pine  Labs  may file for $1b Nasdaq IPO this month

Temasek-backed Indian unicorn Pine  Labs  may file for $1b Nasdaq IPO this month

Photo: REUTERS/Brendan McDermid/Files

Pine Labs, which is aiming for a $6 billion Nasdaq listing, is likely to file paperwork for its initial public offering (IPO) by the end of this month, two people directly aware of the company’s plan said.

The merchant commerce platform hired investment bank Morgan Stanley to manage the proposed initial share sale and is looking to raise as much as $1 billion through a mix of primary and secondary stake sales, the people cited above said, requesting anonymity.

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