Palantir Technologies will list at NYSE on Wednesday at $7.25 reference price, according to press release. Denver, CO-based Company will trade under the symbol PLTR. Going public will allow company to attract more commercial accounts.
- All tradable shares to be sold by existing shareholders
- Palantir and Asana (ASAN) are third and fourth major direct listings at NYSE since Slack (WORK) in June 2019 and Spotify (SPOT) in April 2018.
- No firm committed offering or underwriters on the deal.
- Palantir has an esoteric and mythical reputation in Bay Area
- Customer list and transparency had declined and CEO concerned going public would make running company difficult
- Company financial advisors included Morgan Stanley, Credit Suisse, Goldman Sachs, Allen & Company, RBC Capital Markets, Citi, Jefferies, HSBC, SG Americas Securities, CIBC World Markets, Scotia Capital, and MUFG.
At listing price, Palantir will become U.S.’s sixth-largest by market value of more than $ 15 billion.