Slack Technologies' reference price is set at $26 ahead of its direct listing on Thursday, according to the New York Stock Exchange. At that price, Slack would command a fully diluted market value of $15.6 billion. At $26, Slack is the year's third-largest US listing by market value, behind Uber and Lyft.
The popular workplace messaging application saw its shares trade privately in May at a range of $25.75 to $31.50, with a volume weighted average price of $26.82.
The NYSE reference price does not reflect the opening price for Slack's shares on Thursday. Instead, the opening public price will be determined by the designated market maker, using buy and sell orders collected by the NYSE from broker-dealers.
Slack Technologies plans to list on the NYSE on Thursday under the symbol WORK.
