03:11 PM EST, 03/07/2024 (MT Newswires) -- Reddit (RDDT) will begin its pre-IPO roadshow on Monday as the social media platform tries to woo an anchor investor, the Financial Times reported Thursday.

Reddit plans to price its IPO on March 20 and start trading the following day, the FT said, citing two people familiar with the matter.

An anchor investor would agree to have the name published in the prospectus in exchange for being guaranteed a large allocation of shares, the FT said, citing the people.

Reddit plans to price its IPO on the New York Stock Exchange at $31 to $34, or a valuation of as much as $6.5 billion, the FT said.

Reddit and the NYSE declined to comment, the FT said.

Reddit did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)