Snap Applies Lock-up to IPO Shares
Snap - owner of popular messaging app Snapchat - is going public on Thursday. And it expects anyone buying up to a quarter of its shares to agree not to sell them for a year. Applying lock-ups helps companies moderate stock volatility. A year-long lock-up period is atypically long, potentially signifying strong demand for the IPO, says Lauren Hirsch who covers the story for Reuters. "There is at least one investor who, we're hearing from our sources, have asked to buy a really big chunk in the Snapchat IPO... Читать дальше...