Payments giant First Data priced its initial public offering at $16 per share, which is the biggest for 2015 and is lower than the company's previously indicated $18 to $20 per share.
First Data Corp.'s IPO on Wednesday did not start off as successful as the company had planned. At $16 a share, the price is two dollars below the intended $18 to $20 range the payments-processing company was hoping for, according to a recent Bloomberg news article.
First Data Corporation and Profit Technologies announced that they would work together to provide better service to financial clients in the Asian market.
Credit card processor First Data Corp, a unit of private equity firm KKR, reported a narrower quarterly loss.