Anthropic Taps JPMorgan for U.S. Retail IPO Allocation of 15-20% of Shares

Anthropic has selected JPMorgan to lead retail share sales in its U.S. initial public offering, with roughly 15% to 20% of total offered shares earmarked for individual investors, Bloomberg reported Wednesday, citing people familiar with the matter. JPMorgan CEO Jamie Dimon is expected to participate in the bank's IPO activities. JPMorgan previously led retail subscriptions in SpaceX's $86.2 billion IPO and will reprise that role for Anthropic. Citigroup will coordinate the offering to international retail investors. Morningstar European equities strategist Michael Field estimated Anthropic's listing valuation at $1.5 trillion to $2 trillion, roughly in line with SpaceX, with a timetable apparently set after the U.S. midterm elections. Field flagged governance provisions in the filing that appear designed to limit shareholders' ability to influence board composition or pursue a takeover. The offering will also be marketed in Australia, Canada, Japan, select European Economic Area countries, Switzerland and the U.K.