Square launched its initial public offering on Thursday. The company priced the offering of 27,000,000 shares of its Class A common stock at $9.00 per share.
This was significantly less than previously announced plans to price the IPO at $11 to $13, but things looked better after the bell rang. It opened at $11.20 per share and climbed from there.
Square IPO day & outside the NYSE. "The neighborhood is going public" $SQ pic.twitter.com/ZvxNlXHcRR
— Bo Han (@bohan) November 19, 2015
By the time trading closed, Square hit $13.07 per share, up 45% from the IPO price. The company raised $243 million with CEO Jack Dorsey making a reported $1 billion.
My mother opened the stock market by buying flowers. The ring of the sale rang the ?! $SQ ? pic.twitter.com/Mx6IBcFRAp
— Jack (@jack) November 19, 2015
Square trades on the New York Stock Exchange as “SQ”.
Image via Twitter