Snap Inc, the maker of Snapchat, will begin selling its shares for $US17 ($A22) a piece when it starts trading on the New York Stock Exchange on Thursday.
This puts the company's valuation at $US24 billion ($A31 billion), and allowed it to raise around $3.4 billion in funding.
The company told financial regulators earlier this year in a filing that it intends to sell 200 million class A shares, which will come without voting rights.
Snap was widely expected to price its shares between $US14 and $US16, which would have valued the company anywhere between $US19.5 billion and $US22.3 billion. However, there had been signs in recent days for a lot of demand, leading some to suggest that the company may price its shares at up to $US18 per share.
The counterpoint for a high share price was that it could lead to Snap trading flat on opening day, something companies try to avoid to make their market entry look like a success story.
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The fact that Snap nonetheless went for an above-range price suggests that it is confident in demand among investors.
