Airbnb hikes share pricing to up to $60 before IPO on Thursday

Revised figure follows unexpected third-quarter profit and values the firm at up to $42bn

Airbnb has raised the price of its shares before its initial public offering this week and could float with a valuation of as much as $42bn (£31.5bn).

In a government filing in the US on Monday, Airbnb said it expects to price its shares between $56 and $60 each, up from a range of $44 to $50 earlier this month. Airbnb is expected to issue a final share price late on Wednesday before its IPO on Thursday on the Nasdaq stock market in New York.