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IPOs and new listings

Large IPOs and new listings: price ranges, pricing day, first-day trading, lock-ups and what each step tells investors.

A company that goes public sells shares to new investors for the first time, and the run-up follows a fixed sequence: a public filing, a price range, a roadshow, pricing the night before trading, and finally the first print. Each step carries information about demand that traders read long before the stock opens.

Our coverage follows the biggest listings through that sequence, from the first filing to the end of the lock-up, and explains how a new giant can move the indexes and the stocks it will be compared with.