OSAKA, Japan--(BUSINESS WIRE)--Japanese Wealth Management Company Mirai Life Securities has commented on numerous initial public offerings from major technology companies; however, Slack Technologies Inc took an unusual route on Thursday as its shares rallied without a public IPO.
Researchers from Mirai Life Securities noted that Slack Technologies Inc open its first trading session at around $38.50 on the New York Stock Exchange on Thursday.
Market anticipators were expecting a price entry of around $26 that was set for the shares in the direct listing, and shares continued to rally through trading hours closing at $36.62 reflecting the companies’ new market value of $19.5 billion U.S. Dollars.
Analysts from Mirai Life Securities reported that its last company valuation was back in August, which stood at $7.1 Billion. After its new revised valuation, which puts it as one of the most valuable U.S. technology, company just after Uber Technologies at $75 Billion and Lyft Inc. at $18 Billion.
The technology company Slack creates software for its customers to chat and collaborate on projects which have become an enormous hit listed its share directly onto the New York Stock Exchange bypassing the usual fundraising process of an IPO.
“Slack serves around ten million active users per day, with its recent publicity and gaining market exposure the company have been said to grow its user base pushing its market capitalization to over $50 billion by the year 2025.” Commented Adam Walker, Head of Corporate Trading at Mirai Life Securities.
However, Slack does face steep competition from major companies such as Microsoft and Google, who are critical rivals within the corporate technology market.
About Mirai Life Securities
Mirai Life Securities provides financial trading services to both retail and institutional clients. We enable clients to trade multiple financial instruments across a wide range of financial markets.
We aim to preserve our clients wealth with excellent financial advice and practices. Having started in 2011, Mirai Life Securities has grown into a credible leading financial services provider, as of 2019, Mirai Life Securities holds $8.12 billion US dollars of assets under management.