The New York Stock Exchange welcomes Unity Software Inc. (NYSE: U) Friday, September 18, 2020, as they officially begin trading today.
Shares of Unity, a video game software developer, jumped 44% in its market debut Friday on the New York Stock Exchange.
The company priced its shares at $52 apiece, after lifting the range on Wednesday to between $44 and $48. The stock began trading at $75 per share. The surge after the open boosted the company’s market cap to nearly $20 billion.
The stock trades under the symbol “U.”
Founded in 2004, Unity has become a major player in game creation over the past decade by giving developers the tools to create 3D titles for phones, consoles and the web without having to code for each platform. The company said in its prospectus that it has 1.5 million monthly active creators and that developers using its software are seeing over 3 billion downloads a month.
“Pokemon Go” and “Iron man VR” are among the games developed using Unity’s software. It’s also used for games published by Electronic Arts, Take-Two Interactive, Tencent and Ubisoft.
— CNBC’s Ari Levy contributed to this report.
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