Finance History|Nasdaq MarketSite — Twelve Dollars for Three and a Half Million Graphics Shares
· 1999-1
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Finance History|Nasdaq MarketSite — Twelve Dollars for Three and a Half Million Graphics Shares
kevin
People treat Nvidia as a Santa Clara chip house that always printed NVDA after a finished Nasdaq book.
The January 1999 issuer was NVIDIA Corporation, then a Santa Clara designer of 3-D graphics processors for personal computers.
A company press release dated 22 January 1999 records an initial public offering of 3,500,000 common shares at 12 U.S. dollars a share in 1999 dollars, managed by Morgan Stanley Dean Witter, Hambrecht and Quist, and Prudential Securities.
A contemporary Wall Street Journal account records that the shares closed at 19 and 11/16 U.S. dollars that Friday on Nasdaq, after a first-day rise of 64 percent, and that the sale raised about 42 million U.S. dollars in gross proceeds.
The present tape is still NVDA on the Nasdaq Stock Market.
The mechanism is a cash initial public offering that put a still-private graphics-chip maker onto the Nasdaq tape under the letters it still uses.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed NVDA.
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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