BizSugar.com › Finance › Payment Processor First Data Expects $2.5 Billion From IPO

Payment processor First Data has set its stock price at $16 per share as it begins an Initial Public Offering. That’s lower than preliminary projections.
First Data initially reported plans to price its stock from $18 to $20 per share.
First Data’s Class A common stock is trading on the New York Stock Exchange under the symbol FDC. The offering is expected to close on Tuesday, Oct. 20.
The company stands to raise $2.5 billion from sales of its 160 million Class A common shares, making the First Data IPO this year’s largest so far.