- SNAP will trade on NYSE today
- Original range was $14/$16
- 200mil shares offered (145m shares offered by Snap, 55m by selling holders)- At that price, Snap has a market value of about $20 billion, based on 1.16 billion shares outstanding after the IPO. Based on the number of fully diluted shares -- 1.39 billion, the person said -- the market value is $23.6 billion.
- Morgan Stanley and Goldman Sachs Group Inc. led the offering. Goldman Sachs will be the stabilization agent
- Underwriters: Morgan Stanley, Goldman Sachs, JPMorgan, Deutsche Bank, Barclays, Credit Suisse, Allen & Co
- Biggest IPO since Alibaba
- Demand outpaced the number of shares being offered by a multiple of 10, people familiar with the situation said.