Finance History|Nasdaq MarketSite — Eighteen Dollars for Three Million Book Shares Called AMZN
· 1997-5
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Finance History|Nasdaq MarketSite — Eighteen Dollars for Three Million Book Shares Called AMZN
kevin
People treat Amazon as a Seattle everything-store that always printed AMZN on a mature Nasdaq book.
The first public print was a two-year-old online bookseller that was still losing money.
Amazon.com's own 14 May 1997 release priced 3,000,000 common shares at 18.00 U.S. dollars. Deutsche Morgan Grenfell led the book, with Alex. Brown and Hambrecht and Quist as co-managers, and an option for 450,000 more shares.
The range had started at 12-to-14 U.S. dollars and been lifted twice before that 18.00 print.
Trading began on 15 May 1997 on Nasdaq under the letters AMZN. The Los Angeles Times, citing Reuters, recorded a close at 23.50 U.S. dollars, up 5.50 from the offering price, on about 6 million shares.
CNET put the cash raised at 54 million U.S. dollars in 1997 currency. The company's description that week was still an online retailer of books with more than 2.5 million titles.
The Columbia Building rooms on Second Avenue are a separate memory.
The pin is the Times Square MarketSite board that later carried the tape. The 1997 print itself ran on Nasdaq's dealer network, not inside a visitor studio.
The mechanism is a loss-making bookseller IPO that raised the range twice and still listed a catalog, not a logistics network.
Photo: Nasdaq MarketSite, via the collection photograph already ingested for Nasdaq listings.
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