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Wireless

Square prices IPO at discount

Thursday 19 November 2015 | 08:55 CET | News
Mobile POS developer Square priced its IPO at a discount to the initial price range, raising USD 243 million. The company sold 25.65 million shares and CEO Jack Dorsey's foundation offered 1.35 million. These were priced at USD 9 per share, less than the earlier indicated range of USD 11-13 per share. The shares will begin trading on the New York Stock Exchange on 19 November. The underwriters have a 30-day option to sell another 4.05 million shares. Based on a total 355 million diluted shares outstanding, Square has a market value of USD 3.195 billion at the IPO price. 

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Categories: Mobile & Wireless
Companies: Square
Countries: World
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