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Square prices IPO at discount
2015-11-19 08:55:00| Telecompaper Headlines
(Telecompaper) 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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Category:Telecommunications