Apple Inc. became a publicly traded company on December 12, 1980, offering 4.6 million shares on the Nasdaq stock exchange at $22 each and raising more than $100 million, the largest initial public offering since Ford Motor Company's 1956 stock sale. By the close of trading on the first day, Apple's market capitalization reached $1.778 billion, and more than 300 Apple employees and early investors became instant millionaires. The offering gave cofounders Steve Jobs and Steve Wozniak substantial personal fortunes and provided Apple with the capital to expand beyond its original Apple II product line.
Facts
Event TypeInitial public offering 1 Cross-Tradition Connections
Sources
1. Wikipedia, Apple Inc.
Wikipedia1976-1980: Founding and incorporationQuote, 1976-1980: Founding and incorporation
On December 12, 1980, Apple became a public company through an initial public offering (IPO) on the Nasdaq. The company sold 4.6 million shares at $22 each, raising more than $100 million, the largest IPO since Ford Motor Company's 1956 offering. By the end of the first day of trading, Apple's market capitalization reached $1.778 billion and more than 300 employees and investors became millionaires.
1. Wikipedia, Apple Inc.
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