Mobile payment company Square is going to have a very busy month.
CNBC, citing anonymous sources familiar with the matter, reported Monday that the San Francisco tech firm is expected to set its IPO price range this week, will present the company to investors in an IPO roadshow next week and then begin trading its stock publicly the week before Thanksgiving.
BREAKING: Square to set IPO price range this week, roadshow to begin next week, to trade publicly week before Thanksgiving – sources
The company s Wall Street debut, analysts have said, will come with challenges including a murky market for IPOs and stiff competition.
Valued at $6 billion, Square also has a chief executive who is running two companies, which has been cited as a risk factor in the company s IPO filing. Its CEO Jack Dorsey is also leading Twitter, which recently announced layoffs and restructuring plans.
Square s expenses have also been outpacing its sales.
In 2014, Square raked in $850.2 million in sales but also reported a net loss of $154.1 million, a filing to the U.S. Securities and Exchange Commission shows. For the first six months of this year, the company had a net loss of $77.6 million on revenue of $560.6 million.
Square plans to offer up to $275 million in stock, though that could change, and will list shares on the New York Stock Exchange under the ticker symbol SQ.
Photo Credit: A portrait of Square s CEO Jack Dorsey and Global Facilities Manager, Maja Henderson, on Oct. 8, 2013 at their company s new San Francisco headquarters. By Dai Sugano/Bay Area News Group.
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