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Snowflake shares set to open at nearly double their IPO price

Sept 16 (Reuters) - Sequoia-backed Snowflake Inc’s shares were indicated to nearly double in value in their debut on the New York Stock Exchange on Wednesday, after the cloud-based data warehouse company raised $3.36 billion in the largest U.S. IPO so far in 2020.

Shares of the San Francisco-based company were set to open between $225 and $230 apiece at 12.17 p.m. ET compared to the IPO price of $120 per share. (Reporting by C Nivedita in Bengaluru and Joshua Franklin in Boston; Additional reporting by Niket Nishant; Editing by Shounak Dasgupta and Arun Koyyur)

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