Engine firm Unity was worth a cool $18bn at the end of its first day on Wall Street.
The company made its debut on the New York Stock Exchange under the "U" ticker symbol on Friday, September 18th. The night before it went public, Unity shares were worth $52, which was above the $44 to $48 that the firm had initially anticipated – itself an increase from the $34 to $42 it was initially asking for.
Unity went public with stock worth $75. Before its IPO, the company raised $1.3bn, selling 25m shares at $52.
“I don't know if other companies will follow, but we're just happy that our investors seem happy,” Unity CFO Kim Jabal told the FT. “It worked for us and we're pleased with the outcome.”
Rumours that Unity was going public have been circulating in the industry for years now. The firm finally announced its intention to float in August when it filed its S1 with the United States Securities and Exchange Commission (SEC).