Market capitalization over 7 trillion yen The largest new listing on the NY Stock Exchange

Market capitalization over 7 trillion yen The largest new listing on the NY Stock Exchange September 17, 6:42

Snowflake, an American startup that manages and analyzes big data for companies, went public on the New York Stock Exchange on the 16th.

With a market capitalization of over 7 trillion yen in Japanese yen, it is the largest new listing, demonstrating the strong willingness to invest in IT and high-tech related stocks.

Listed on the New York Stock Exchange on the 16th is "Snowflake," which is based on the west coast of the United States.

Warren Buffett, a well-known investor who is a startup company founded in 2012 that manages and analyzes big data for companies, has attracted attention because it decided to invest.

We expanded into Japan in November last year and announced a capital and business alliance with NTT DATA on the 16th.

On the 16th, the first deal, the public price of $ 120 was flooded with buy orders and the closing price rose to $ 253.

The market capitalization calculated at the closing price was 70.4 billion dollars, and the Japanese yen was 7.4 trillion yen, making it the largest new listing.

Stock prices in the New York market plummeted in the first half of the year due to the spread of the new coronavirus, but by this date there were more than 280 new listings, already exceeding the number of cases last year.

In the background, there is a view that large-scale monetary easing by the central bank will continue for a long time and it will be easy to raise funds, which shows the strong willingness to invest mainly in IT-related stocks.

Executives "Investing in companies that are trying to take on the'next growth'"

Chris Degnan, one of Snowflake's executives and CRO Chief Revenue Officer, told NHK that "investors are all companies that are trying to take on the'next growth'in IT and high tech. You're trying to invest. 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 utilize it. It is very exciting to be able to help such companies." I did.

The company is engaged in a business that enables efficient management of data of client companies distributed over multiple systems, which will lead to significant cost reductions for client companies.