Rainbow barf

28 February 2017 By Richard Beales Follow @richardbeales1

Parent Snap is set to go public this week. The traditional market cap at the top of the indicated range is $18.5 bln. Including stock promised to staff, that shoots up to $22.3 bln. Blocking out new money, it’s $20 bln. All tallies demand heart-shaped, rose-tinted lenses, though.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

Context News

The initial public offering of Snap, owner of the popular messaging app Snapchat, is expected to price on March 1 after the market closes with shares trading the following day on the New York Stock Exchange under the symbol SNAP.

The underwriters are offering 200 million non-voting Class A shares, comprising 145 million new shares to be sold by Snap, and 55 million to be sold by existing investors. Up to another 30 million shares may be sold at the underwriters' option, just over half being new shares.

The indicated price range is $14-$16 per share. Excluding the optional additional shares, there will be 1,157 million shares of all classes outstanding after the offering.

Email a friend

Please complete the form below.

Required fields *

Rainbow barf

This content is for Subscribers only

Existing Users Log In

Email a friend

Please complete the form below.