Report: Square to start its IPO roadshow next week
Square will list on the New York Stock Exchange under ticker symbol “SQ,” with Goldman Sachs (GS) serving as lead underwriter.
According to CNBC’s Kayla Tausche, Square will provide an updated filing with a price range for the company’s stock, giving it a potential valuation. The big question will be whether Square’s valuation will exceed that of its last funding round in 2014, which valued the company at $6 billion.
If Square starts its roadshow next week, it’s possible that the company will list its offering the week before Thanksgiving.
In its original S-1 filing, Square reported a $77.6 million net loss on around $560.5 million of what it calls “net revenue” for the first six months of 2015, compared to a $79 million net loss on around $372 million in revenue for the same period in 2014. But in a more recent filing disclosing third quarter financials, Square posted a net loss of $53.9 million on $332.2 million in revenue, representing slower revenue growth and faster loss growth than in the year-earlier period.
Square declined to comment.
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