Palantir Technologies, the U.S. data analytics company best known for developing data analysis software for government agencies and large companies, went public via a direct listing.
Trading on the New York Stock Exchange, Palantir shares opened at $10 a share and closed at the end of the trading day at $9.50, or 31% above the reference price.
Palantir is valued at about $21 billion, based on its fully diluted share count, including recent securities sold. Instead of raising funds through IPO, the company held a direct listing of its stock, allowing existing shareholders to sell up to 20% of their stake to new investors.
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