As the IPO market is opened chime rises 37%

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Greetings, Timed sheets. This is the fanderer for Allie, this financial correspondent Luisa Beltran.

CHIME FINALSI ended the first day of trade on Thursday with $ 16.1 billion on Thursday. This is 36% lower than $ 25 billion worth of estimates in 2021 when it was a noisy Fintech unicorn.

Again, Chime IPO, the company and more importantly, in new topics of the public capital market, especially for those in the Fintech category, are marked as a company’s victory.

Analyst in the study of Fintech capital in Mizuho securities, Delev, the IPO market, said that the IPO market is open to Fintechs. “Fintech has a lot of thirst for IPOs. If you want to make a Fintech IPO, it’s a collision” Dolev.

Thursday increased by $ 43 to $ 43, 59% from the $ 27 offer price. The fund was closed to $ 37.11 and increased to an intraday height of $ 44.94 before losing the momentum.

Shawn Carolan, who is a partner in Menlo enterprises, leading to the chime investment in Venture, said he was proud of the performance of Fintex. “Take a price and trade over the range, good day,” said Cararan.

Menlo enterprises, along with Chime management, stocks are not sold in IPO. “You want to catch the companies that are good,” he said.

Founded in 2012, Chime offers traditional financial services such as free inspection and savings accounts, offers traditional financial services to reduce US consumers to earn up to $ 100,000. At the beginning, on March 33, there were 8.6 million active members, and two thirds trusts as a primitive bank the films of the regulation. About 70% of members use Chime to get food, grocery, gas and utilities.

Chime generation is building a financial services company, speaking coo Mark Troughton said Fortune From Nasdaq. “We wanted to go to the public from the day. It was time to execute in the public market,” he said.

Chime is one of several companies, including Etoro, Hinge Health and MNTN recently presented with strong debuts. Many protected the winner in the next market. However, the continuous performance of the updated crypto firm of investor appetite for high growth technological companies. Last week, circle rocket 168%, in the debut on the New York Exchange after earning $ 1.05 billion with IPO. The circle shares continued to win in subsequent trade sessions, and now it is 243% off the price of $ 31.

The first day of the chime came after the first day, Neobank came after raising $ 864 million on Wednesday. Fintech selling $ 32 million in each one, $ 24 – $ 24 – $ 26 in price range. About 6.1 million shareholders are coming from 32 million shares and the rest of the company.

Chime went to the public “Previously”, but had to wait for the markets for the location of the IPO window to open Menlo enterprises. IPO, 397 companies have been more than the 2021 departure days using a traditional IPO. However, their angry performance, about 80% of the grade of 2021 still trades below the proposal prices, a pall on new issues. Since the end of 2021, the number of IPOs slowed significantly.

Cararan thinks that the IPO market is open to large companies. Strong companies like Chime can go to the public in any market. “It remains to be seen in the market if it accepts smaller profitable or smaller companies.”

See you on Monday,

Louisa Beltran
X: @Buiserbeltran
Email: luisa.beltran@fortune.com
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This story was first displayed Fortune.com

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