Square shares jump 46% on debut

• 19 November 2015
• From the section Business

Shares of global payment company Square jumped 46% in the open hours of its first day of trading.

The company priced its shares at just $9 (£5.88) lower than the expected range of $11 to $13.

The low price has caused some investors to speculate about the long term health of the company.

Square – which helps companies accept and process credit card payment – was created by the co-founder and chief executive of Twitter Jack Dorsey.

Listing its shares publically allowed Square to raise $243m.

The stock reached $14.78 at one point in the early hours of trading.

“Square’s financials leave much to be desired. But there’s still a lot to like here, and think the success of their debut will say a lot about the current IPO environment,” said Brian Hamilton, chairman of data firm Sageworks.