The grocery delivery app, co-founded by University of Waterloo alumnus Apoorva Mehta, said it will price shares at US$28 to US$30 each, following Softbank-owned Arm’s strong Nasdaq debut Thursday. (Bloomberg)

Talking point: Instacart’s pricing is up from a previously anticipated US$26 to US$28 range, with an expected market capitalization of US$9.3 billion, well below its last known valuation of US$13 billion in October 2022. The new pricing will give it a market capitalization of US$9.9 billion on the high end of the scale. It’s one of a few companies, including Shopify-backed Klaviyo, now turning to the markets after a long stretch in which IPOs were rare. Arm’s shares soared nearly 30 per cent on its first day of trading Thursday.