Square to price IPO this week: CNBC
SAN FRANCISCO – Mobile payments company Square Inc’s initial public offering will be priced this week and its shares will be listed the week before Thanksgiving, CNBC said in a tweet, citing sources.
The company, headed by Twitter Inc Chief Executive Jack Dorsey, filed for an IPO on Oct. 14.
Square’s roadshow, which will likely take Dorsey across the globe to drum up interest for an IPO, will begin next week, CNBC said in the tweet. (bit.ly/1OiTtfc)
Square was not immediately available for comment.
The company, founded in 2009, will enter a challenging market for IPOs. San Francisco-based Square was valued at $6 billion at its last funding round a year ago.
Square started as a payments company, offering small businesses a way to accept credit card payments through a “dongle” for mobile devices.
It would be among the highest-valued tech companies to make a public offering this year, according to data from IPO manager Renaissance Capital.
Several sources have previously told Reuters that Square is under pressure from shareholders to go public before the end of the year for tax considerations. –Reuters