Square Trading Above IPO Issue Price In Market Debut

Square Inc. was trading at $11.20, above its $9 issue price in its debut on the New York Stock Exchange Thursday. Square priced its initial public offering at $9 last night, below its previously expected range of $11 to $13. In its private series E funding round, investors paid $15.46 per share. Square said Wednesday it offered 27 million shares of its class A common stock to raise $243 million. Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan were the lead underwriters of the offering.