Snap Inc., the company that owns photo-sharing mobile app Snapchat, saw its shares soar on the NYSE on Friday, the second day of listing. The stock closed 10.66 percent higher at $27.09, after a spectacular debut on Thursday that saw the tech company's share close at 44 percent premium to its issue price of $17.
Snap, which sold 200 million shares to investors through its IPO, also saw the wealth of its co-founders — Evan Spiegel (26) and Bobby Murphy (28) — rise to $5.2 billion each. The two executives added $1.6 billion each to their wealth as a result of the bullish listing on the NYSE.
Here are the top 5 IPOs that got a spectacular response from investors on listing:
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The social networking site, which also owns Instagram and WhatsApp, went public in 2012, eliciting an overwhelming response from investors. The Facebook stock listed at $42.05 as against offer price of $38 apiece, a premium of 11 percent. On Friday, the share closed at $137, up 0.30 percent from its previous close.
The Chinese e-commerce company Alibaba Group fixed the share price at $68 when it approached the markets in 2014 to raise about $25 billion. On September 19, 2014, the stock listed at $92.70, a premium of 36 percent to the issue price and closed slightly higher, at $93.89.
On Friday, Alibaba Group shares ended at $103.31 apiece on the NYSE.
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The microblogging site came out with its IPO in November 2013, selling 70 million shares to raise about $1.8 billion. Twitter shares got listed at $45.10 on November 7, up 73 percent to the issue price of $26 apiece.
The stock, however, closed at $44.94, giving up early gains. On March 3, 2017, the Twitter share closed at $15.75.