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NYSE sets reference price of $7.25 for Palantir's direct listing

Sept 29 (Reuters) - The New York Stock Exchange on Tuesday set a reference price of $7.25 for U.S. Central Intelligence Agency-backed Palantir Technologies Inc’s direct listing.

The reference price values the data analytics provider at around $15.76 billion, lower than its most recent valuation of $20 billion from a fundraising in 2015.

Palantir is going public through a direct listing, rather than a traditional initial public offering, and its shares are set to start trading on the NYSE on Wednesday under the symbol “PLTR”.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Sriraj Kalluvila

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