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Goldman Sachs Named Syndicate Manager for Snap IPO
[Illustration: thecountrycaller.com]
Goldman Sachs, which will be a lead underwriter alongside Morgan Stanley for Snap's prestigious IPO, was given the coveted role of stabilization agent. Goldman will oversee Snap Inc.’s first hours of trading as a public company and managing the additional shares allotted to underwriters.
Snap is seeking to raise as much as $4 billion in its offering, for a market value of as much as $25 billion. The listing could come as soon as March. The company publicly filed its deal prospectus Thursday with a $3 billion offering size placeholder that’s used to calculate fees and may change.
Full List of Underwriters includes: Morgan Stanley, Goldman Sachs, JPMorgan Chase, Deutsche Bank, Barclays, Credit Suisse and Allen & Co., according to the prospectus.
Snap’s IPO is poised to be the biggest social media offering since Twitter Inc. went public in 2013. Goldman Sachs was also the lead underwriter and stabilization agent on that deal.
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