Remittance processor Remitly valued at over $8 billion after strong market debut By Reuters
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© Reuters. In this photograph taken in San Francisco on March 30, 2016, a man displays the Remitly app he uses for sending money to his Mexican family. REUTERS(Reuters) – Shares of Remitly Inc opened more than 23% above their initial public offering (IPO) price in their Nasdaq debut on Thursday, giving the remittance processor a market capitalization of roughly $8.5 billion.
After opening at $43 per share in the IPO, Remitly’s stock traded at $52.9 per unit.
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