We put together a roundup of the top 10 most important market-moving events that made investment news this week.
- The 10 Most Important Pieces of Investment News This Week
- Synchrony Financial (NYSE: SYF) Stock Flat in Debut
- Synchrony IPO Price Set Today; Here's What to Watch for as SYF Stock Hits Market
- Synchrony IPO – Largest So Far in 2014 – Hits Market This Week with 22 Companies Going Public
Synchrony Financial (NYSE: SYF) stock closed exactly where it opened on its first day of trading today (Thursday), at $23 per share.
The stock was down nearly 1.5% just before market close before a late rally brought shares back to its offer price.
The Synchrony IPO price was set at $22 per share today (Wednesday), meaning the company raised $2.88 billion in its initial public offering.
Shares were priced at the low end of the previously proposed range of $23 to $26 per share. Synchrony Financial (NYSE: SYF) had been expected to raise $3.1 billion.
The Synchrony IPO will take place on Thursday, and it's expected to raise approximately $3.1 billion. That would easily make it the largest IPO of 2014 so far, outpacing the $2.6 billion raised by Ally Financial Inc. (NYSE: ALLY) from April.
And while Synchrony Financial (NYSE: SYF) will be the biggest IPO to watch this week, it's just one of 22 companies going public.