Payments Processor Marqeta Climbs After $1.23 Billion IPO
- Date: 10-Jun-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Payments Processor Marqeta Climbs After $1.23 Billion IPO
(Bloomberg) -- Marqeta Inc., an online card and payment processing company, rose as much as 21% in its trading debut after raising $1.23 billion in an initial public offering priced above a marketed range.
Shares of the Oakland, California-based company were up 11.4% to $30.09 at 3:41 p.m. Wednesday in New York trading, giving it a market value of about $16 billion. Diluted to include holdings such as stock options, Marqeta's value rises to more than $16.7 billion.
Marqeta sold 45.5 million shares for $27 apiece on Tuesday after marketing them for $20 to $24.
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