Surf Air Mobility shares slump 75% in NYSE debut

📆 7/27/2023 10:47 PM
📰 ChannelNewsAsia

⏱ Reading Time:
10 sec. here
2 min. at publisher
📊 Quality Score:
News: 7%
Publisher: 66%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Electric aviation and regional air travel company Surf Air Mobility shares slumped 75 per cent below their reference price in a direct listing on Thursday.Shares debuted on the New York Stock Exchange at $5 per share below its reference price of $20. Unlike an initial public offering, in a direct

Electric aviation and regional air travel company Surf Air Mobility shares slumped 75 per cent below their reference price in a direct listing on Thursday.Unlike an initial public offering, in a direct listing shares are not sold in advance. Shareholders are allowed to sell shares directly to the public and net any proceeds from the sale.Surf Air Mobility had earlier this month pushed its listing date from July 11 to the week of July 24. The company had last year confidentially filed for a U.S.

Cryptocurrency exchange Coinbase Global and workplace communication software Slack Technologies also went public through direct listings. Slack was later bought by Salesforce.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amphenol sees better-than-expected revenue on demand from defense, aviationElectronic components maker Amphenol forecast third-quarter revenue above market estimates on Wednesday on optimism over demand from commercial air, military and automotive markets, sending its shares up more than 3 per cent in early trading.The company expects third-quarter sales to be between $3.04 bill
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »