(Reuters) - Payments processor First Data Corp priced its initial public offering, this year’s biggest, at $16 per share, below its previously indicated range of $18 to $20 per share, according to a person familiar with the matter.
First Data raised $2.56 billion by selling 160 million shares, valuing the company’s equity at $14 billion. Including debt, the company is valued at $35 billion.
The source asked not to be identified because the matter is not yet public. First Data declined to comment.
Reporting by Lauren Hirsch in New York; Editing by Diane Craft