Snapchat maker Snap Inc. held the biggest initial public offering ever for a Los Angeles company this week pricing its shares at $17 apiece. The company made its debut on the New York Stock Exchange on Thursday, where it quickly leaped to close at $24.48.
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Snapchat maker Snap Inc. plans to start pitching its stock to big-time investors Friday, kicking off a nearly two-week sales process leading up to an expected New York Stock Exchange debut.
Business Insider posted a detailed schedule of where Snap executives and the company's investment bankers will be heading:
- Friday: Mid-Atlantic
- Feb. 20: London
- Feb. 21: New York City
- Feb. 22: New York City
- Feb. 23: Boston
- Feb. 24: Midwest
- Feb. 27: Los Angeles/San Francisco
- Feb. 28: San Francisco
The meetings with representatives of mutual funds, hedge funds and other investors capable of making big purchases is known in the industry as a roadshow. These buyers will get first dibs on Snap shares. Most smaller funds and individual investors who want to buy Snap shares for their personal portfolios will have to wait until the stock market listing goes live in early March.