Fitbit, the well-known maker of wearable fitness tracking devices, looks set to be worth more than $4 billion when it lists on the New York Stock Exchange on Thursday, US time.
At $20 a share, the firm raised $731.5 million from its initial public offering (IPO), valuing the company at around $4.1 billion according to a report from Reuters.
On Tuesday the company announced that it expected to price the offering between $17 to $19 a share, but it seems strong demand has pushed the price above that range.
The company is will debut on the New York stock exchange under the ticker code ‘FIT’.
Those looking to own the stock, and get their daily step numbers up in the process, best skedaddle to their broker.