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. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Square
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Square unveils new Square pay register

Published 31 Oct 2017 06:00 CET | World
Square unveiled its newest hardware offering, Square Register, at the Square Showroom in Nolita. This is a fully integrated ...

Square general counsel to leave by end Sept

Published 12 Aug 2016 09:03 CET | World
Square general counsel Dana Wagner will be leaving the company by the end of September, Recode reported, citing a regulatory ...

Square improves adjusted revenue in Q1

Published 06 May 2016 11:49 CET | United States
Mobile card reader and payment processing company Square reported USD 146 million of adjusted revenue in the first quarter, an ...

Square's new reader available in the US for USD 49

Published 24 Nov 2015 13:41 CET | United States
Square's new contactless reader has become available at 100 local business owners across the US. The reader enables them to ...

Square IPO to raise as much as USD 400 mln

Published 06 Nov 2015 15:37 CET | United States
Mobile payments specialist Square said it will sell shares in its initial public offering at USD 11-13 per share, meaning ...

Square files for IPO

Published 15 Oct 2015 09:20 CET | United States
Mobile payments provider Square has filed with the US Securities and Exchange Commission for an initial public offering of shares ...