Company News

Palantir opens up 38% in New York debut, valuation at nearly $22 bln

Sept 30 (Reuters) - Shares of Palantir Technologies Inc jumped 38% in their stock market debut on Wednesday, valuing the U.S. data analytics firm known for its work with the Central Intelligence Agency and other government bodies at nearly $22 billion.

Its shares traded at $10 apiece, compared with a reference price of $7.25 per share set by the New York Stock Exchange on Tuesday.

The listing is a landmark moment for Palantir and puts an end to years of speculation about when the company, co-founded by billionaire Peter Thiel in 2003, would ultimately go public and how much would it actually be worth. (Reporting by Anirban Sen in Bengaluru; Editing by Anil D’Silva and Arun Koyyur)