05:37
+17 C°
Traffic jam:   0
$
71.6797
87.3274

Affirm is up 110% on its first day of trading

14 January 2021
1774
1 min.
10
Affirm is up 110% on its first day of trading

Affirm quotes

US-based Affirm Holdings, which provides installment loans to online buyers, priced its initial public offering above the market range to raise $1.2bn, Bloomberg writes. The offering was led by Morgan Stanley, Goldman Sachs and Allen Co.

Fintech listed on the NASDAQ exchange on 12 January. During the listing, the company sold 24.6 million shares at a higher price than it originally intended, at $49 apiece. The day before the IPO, the company raised its share price to $41-44 from $33-38 per share.

Affirm's share price soared 110.2% on the first day of trading. At the highs they were as high as $102.99 at offering price of $49. The securities finished the first trading session with 98.4% growth.

After the IPO, Affirm had a market valuation of $11.9bn and a diluted valuation of the company including options and restricted stock units (RSUs) approached $15bn.

Affirm was founded in 2012. Fintech allows online purchases to be made with deferred payment through a system of short-term consumer loans. Its net loss in 2020 was $15m on revenues of $174m, compared to a loss of $31m on revenues of $88m in the same period in 2019.

Affirm is just the first of several companies to launch their IPO as early as this week. They include used luxury goods trading platform Poshmark, pet retailer Petco Animal Supplies, mobile games operator Playtika Holdings and car service company Driven Brands Holdings.

Companies10 in the news

Playtika
2 place
Poshmark
4 place
Affirm
5 place
Allen
6 place
Nasdaq
7 place
Morgan Stanley
8 place
Goldman Sachs
9 place
Bloomberg L.P.
10 place
Section:

Discussion

Rating companies
Tesla
66 Mention
Apple
65 Mention
Nasdaq
61 Mention
Amazon
54 Mention
Dow Jones
49 Mention
Facebook
49 Mention
Microsoft
35 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director