Shares of payments startup Marqeta set to soar in Nasdaq debut

Illustration picture of Marqeta logo in front of displayed stock graph
Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration

June 9, 2021

(Reuters) – Shares of payments startup Marqeta Inc were set to soar in their U.S. stock market debut on Wednesday, giving the company a valuation of nearly $17 billion.

At 10:38 a.m. ET, Marqeta’s shares were indicated to open at $32 compared to its IPO price of $27 per share.

(Reporting by Sohini Podder in Bengaluru)