Back on June 24th, Ipreo’s Capital Markets Services Team put together some interesting IPO stats following Twilio’s (NYSE: TWLO) raging debut on the public markets. Last week, we got another successful IPO.
Line (NYSE:LN), a popular messaging app and social network in many Asian markets, particularly Japan, listed shares on the NYSE and the Tokyo Stock Exchange.
- Line’s IPO was priced at $32.84, above the initial price range of $25-$28, making it only the second IPO of 2016, along with Twilio, to price above its initial range.
- Line had a strong first day of trading, closing at $41.58 per share, or 27% above its offer price. Line’s first-day pop ranks 88th for IPOs since 2014. Not bad, but short of Twilio’s first-day pop, which stands as the 14th best since 2014.
- Line traded 29 million shares on its first day of trading on the NYSE, which represents 132% of the shares offered. Again, robust volume, but short of the turnover that Twilio experienced on its first day.