Finance History | Nasdaq MarketSite — Twenty-One Dollars for Two and a Half Million Software Shares
· 1986-3
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Finance History | Nasdaq MarketSite — Twenty-One Dollars for Two and a Half Million Software Shares
kevin
People treat Microsoft as a Redmond software house that always printed MSFT after a finished Nasdaq book.
The March 1986 issuer was Microsoft Corporation, then based in Bellevue, Washington.
Microsoft's own 1986 chronology dates the offering to 13 March 1986 and states the price as 21.00 U.S. dollars a share in 1986 dollars.
The same page records that the stock finished the first session at 28.00 U.S. dollars and that the offering raised 61 million U.S. dollars in 1986 dollars.
Goldman Sachs, the book-running manager, later recorded that the firm sold the planned 2.5 million shares plus 295,000 more.
The common has traded on the Nasdaq tape under MSFT since that opening.
The mechanism is a cash initial public offering that put a personal-computer software book onto the over-the-counter Nasdaq tape under its own four letters.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed MSFT.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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