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Snap expecting some new IPO investors to commit to year-long ban on selling

Wednesday, March 1, 2017 - 05:50

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While Snap cautioned it had no binding commitments yet from investors, the disclosure is a sign of confidence from the company in what is expected to be the biggest US IPO since Facebook Inc.

New York

SNAP Inc, owner of popular messaging app Snapchat, disclosed on Monday that it expected investors buying up to a quarter of the shares in its US$3.2 billion initial public offering this week to agree not to sell them for a year.

While Snap cautioned it had no binding

sentifi.com

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