Tue, Mar 07, 2017 - Page 14 News List

News retrospective: Snapchat prepares for whopping US$ 24 billion stock market flotation

Snapchat CEO Evan Spiegel poses for a photo on Oct. 24, 2013 in Los Angeles.

Photo: AP

Snap Inc, the founder of messaging app Snapchat, today announced the list price for its initial public offering (IPO) on the New York Stock Exchange, which is set to give the social media company a market value approaching US$24 billion.

Due to strong demand from investors, Snap Inc. announced that the company’s shares will initially trade at US$17 apiece, higher than the anticipated US$14-16 share price.

This will allow the message-vanishing app to raise US$3.4 billion in capital, which will help the Californian start-up company to expand and move beyond its core business of young smartphone users.

The Snap IPO is the largest by a tech company since China’s Alibaba Group Holding Ltd’s 2014 IPO, and the biggest by a US tech company since Facebook’s 2012 flotation.

This article was first published on March 2.

(CNA, translated by Edward Jones)

開創Snapchat通訊軟體的Snap公司(Snap Inc.)今天宣布於紐約證券交易所首次公開募股定價,讓這家社群網路公司市場價值達兩百四十億美元左右。

由於投資人需求熱切, Snap聲明指出,首次公開募股每股定價為十七美元,高出外界預期的介於十四至十六美元。




Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top