Palantir opens up 38pc in New York debut, valuation at nearly US$22b

A banner featuring the logo of Palantir Technologies (PLTR) is raised at the New York Stock Exchange on the day of their initial public offering (IPO) in New York September 30, 2020 — Reuters pic

NEW YORK, Oct 1 — Shares of Palantir Technologies Inc jumped 38 per cent in their stock market debut yesterday, valuing the US data analytics firm known for its work with the Central Intelligence Agency and other government bodies at nearly US$22 billion (RM97.48 billion).

Its shares traded at US$10 apiece, compared with a reference price of US$7.25 per share set by the New York Stock Exchange on Tuesday.

The listing is a landmark moment for Palantir and puts an end to years of speculation about when the company, co-founded by billionaire Peter Thiel in 2003, would ultimately go public and how much would it actually be worth. —Reuters

Source: Malay Mail