The Visa and Starbucks-backed mobile payment company is set to float at a valuation at least 30% less than at its last equity round.
Square, the US-based mobile payment technology provider backed by payment services firm Visa and coffee chain Starbucks, has set the range for an initial public offering expected to raise up to approximately $404m.
The company plans to issue 29.7 million shares priced at $11 to $13 each, with stockholder Start Small Foundation set to sell an extra 1.35 million shares.
The $13 figure values Square at up to $4.2bn, 30% less than the $6bn valuation at which it raised $150m…
