Richard Drew | AP
A banner for First Data Corp. adorns the
facade of the New York Stock Exchange, to mark the company's IPO,
Thursday, Oct. 15, 2015.
This is a breaking news story. Please check back for further updates.
Shares of First Data fell into negative territory, giving back gains at its initial public offering on Thursday.
The company's stock priced in at $16 and opened at $16.39, up more than 2 percent, before falling about 1.5 percent.
Shares of First Data fell into negative territory, giving back gains at its initial public offering on Thursday.
The company's stock priced in at $16 and opened at $16.39, up more than 2 percent, before falling about 1.5 percent.
"It's a great day for us to open. We feel fabulous about [the IPO]," Frank Bisignano, CEO of First Data, told CNBC's "Squawk on the Street" shortly after the stock began trading.
First Data hoped to raise as much as $3.7 billion in what is expected to be the biggest initial public offering of the year.
Bisignano also said he feels confident the company can compete with the likes of Square, which recently filed for its own IPO, and even Visa.
"If you look at what we've done over the past two year, we've really transformed the company," he said. "we were a no-growth company and we've changed that. We changed how we approached our clients ... and changed how we do business with small and medium-sized businesses."
First Data hoped to raise as much as $3.7 billion in what is expected to be the biggest initial public offering of the year.
Bisignano also said he feels confident the company can compete with the likes of Square, which recently filed for its own IPO, and even Visa.
"If you look at what we've done over the past two year, we've really transformed the company," he said. "we were a no-growth company and we've changed that. We changed how we approached our clients ... and changed how we do business with small and medium-sized businesses."
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