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Unity valued at $13.7bn after successful IPO

Engine provider raised $1.3 billion through sale of shares on New York Stock Exchange

Unity has completed its Initial Public Offering and been valued at $13.7 billion.

The company, best known for the game development engine of the same name, began trading shares on the New York Stock Exchange yesterday under the symbol "U".

Having originally set an initial target price of $34 to $42 per share, Unity increased this to $44 to $48 on Monday, Reuters reports.

But the company's share price rose to $52 as it shifted 25 million shares.

The share sales rose $1.3 billion.

Unity has been talking about an IPO for years, but finally filed its prospectus last month.

We delved deeper into the prospectus and shared some surprising revelations about the company, including that it has yet to turn a profit.

We also discussed these on a recent episode of The GamesIndustry.biz Podcast.

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