Home Business NewsBusiness Value of Snapchat owner soars by 41 per cent on US stock market debut

Value of Snapchat owner soars by 41 per cent on US stock market debut

by LLB Reporter
2nd Mar 17 4:53 pm

The latest

The value of Snapchat’s owner has soared in its New York stock exchange debut.

A flotation valued the company at $24bn (£19bn).

They began trading at $24 per share, representing a 41 per cent increase on the initial offer price.

The main question for investors ahead of Initial Public Offering (IPO) was whether Snap represented a good financial bet.

Shares were offered at the top end of the range at $17, this was good indicator of strong interest.

It’s currently 39 per cent down on its offer price, growth and other metrics are proving disappointing to investors.

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