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Snap’s shares set for trading pop after $3.4 billion IPO

March 2, 2017 By Lauren Hirsch NEW YORK (Reuters) – Snap Inc’s in-demand shares were set to rally on their first day of trading in New York on Thursday, after the owner of the popular Snapchat messaging app raised $3.4 billion in its initial public offering (IPO), above its price expectations. Early indications pointed to the shares opening up at between $22 and $24, after the IPO priced on Wednesday at $17 per share. The IPO book was oversubscribed by more than 10 times, boosting the chances of a pop…

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Snap’s sought-after shares set for market debut after $3.4 billion IPO

March 2, 2017 By Lauren Hirsch NEW YORK (Reuters) – Snap Inc’s in-demand shares are set to start trading in New York on Thursday after the owner of the popular Snapchat messaging app raised $3.4 billion in its initial public offering (IPO) on Wednesday, above its price expectations. Snap’s IPO was oversubscribed by more than ten-times, indicating a hunger for the shares that might produce a pop on the first day of trading. The New York Stock Exchange carried out a trial run last week to make sure the third-biggest…

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