March 02, 2017
Shares opened at US$24, giving the company a market valuation of about $27.8 billion, based on the total number of shares outstanding after the offering in the deal prospectus. Snap sold 200 million shares in its initial public offering at $17 each.
The company priced its shares above the marketed range of $14 to $16 each, in the biggest social-media IPO since Twitter more than three years ago.
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