Palantir Direct Listing Reference Price Set at $7.25 by NYSE (1)

The New York Stock Exchange has set a reference price of $7.25 for the direct listing of Palantir Technologies Inc., the data mining company co-founded by technology billionaire Peter Thiel.

No shares change hands at the reference price, though it acts as a guide to investors and is determined based on recent secondary trading performance. At $7.25 a share, Palantir would have a market value of about $16 billion on a fully diluted basis. The reference price doesn’t dictate where the shares will start trading and at what Palantir’s actual valuation will be.

That’s less than the $20.8 ...