NYSE President Stacey Cunningham provides insight into record market highs, delisting China firms, and the IPO market.
Unity Software Inc. shares surged Friday in their opening trade on the New York Stock Exchange.
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Shares of the San Francisco-based software services provider opened for trading up 44% at $75 after pricing at $52 on Thursday evening. They were expected to price between $44 and $48 each after their range was raised from $34 to $42 on Wednesday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| U | UNITY SOFTWARE | 68.00 | -7.00 | -9.34% |
Friday’s initial public offering, which raised $1.3 billion, valued the company at $13.7 billion. Unity was last valued at $6 billion following a fundraising round in July 2019.
The company’s net loss for the first six months of the year narrowed to $54.1 million, down from $67.1 million last year, as revenue climbed 39% to $351.3 million.
Goldman Sachs Group and Credit Suisse Group served as lead underwriters.
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Unity’s debut wraps up a strong week for initial public offerings.
Software solutions provider Snowflake Inc. more than doubled Wednesday in their NYSE debut. Software provider JFrog Ltd. shares, which also debuted Wednesday, surged 50% during their first day of trading.
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September 18, 2020 at 11:08PM
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Unity stock jumps in trading debut - Fox Business
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