The largest new listing on the NY Stock Exchange with a market capitalization of more than 7 trillion yen

Market capitalization of more than 7 trillion yen The largest new listing on the NY Stock Exchange September 17 at 6:42 a.m.

Snowflake, an American startup that manages and analyzes big data for businesses, listed its shares on the New York Stock Exchange on April 16. With a market capitalization of more than 7 trillion yen in Japanese yen, it became the largest new listing, showing the strength of our willingness to invest in IT and high-tech-related stocks.
Snowflake, based on the West Coast of the United States, was listed on the New York Stock Exchange on June 16.

Warren Buffett, a startup founded in 2012 that manages and analyzes big data for companies, attracted attention for his decision to invest in the company.

In November last year, we expanded into Japan and announced a capital and business alliance with NTT DATA on November 16.

On the 16th, the first day of the business, buy orders poured in against the public price of 120 dollars, and the closing price rose to 253 dollars.

The market capitalization calculated at the closing price was 70.4 billion U.S. dollars and 7.4 trillion yen in Japanese yen, which was the largest new listing.

Stock prices in the New York market plunged in the first half due to the spread of the new coronavirus, but the number of new listings has already exceeded the number of companies in the past year, with more than 280 companies by this date.

In the background, there is a view that large-scale monetary easing by central banks will continue to be easy to raise funds for a long time, suggesting the strength of investment motivation, mainly in IT-related stocks.

Executives: “In investing in companies that are going to be responsible for ‘next growth'”

Chris DeGnan, chief revenue officer at CRO, one of Snowflake’s executives, told NHK, “I think investors are trying to invest in companies that are trying to make ‘next growth’ in IT and high tech. I think we can be one of those companies.”

Regarding future business in Japan, Mr. Degnan said, “There are many companies in Japan that are going to move their data to the cloud and use it. It’s very exciting to be able to help those companies.”

The company is working to efficiently manage the data of customers distributed across multiple systems, which they think will significantly reduce costs for their customers.