Hollis Johnson/Business InsiderFloor traders at GTS, the designated market maker that handled the opening of the stock, got personalized jackets marking the event.Levi's initial offering price, which is set the night before listing and based on investor interest during the company's"roadshow", was $17.At 9:30 a.m., Levi's chief financial officer , Harmit Singh, and CEO , Chip Bergh, opened trading on the public markets by ringing the bell for 10-straight seconds.
For more than an hour, GTS fielded buy and sell orders from traders, narrowing the price range as it evaluates what the opening price of the stock should be.The process took over an hour and a half, which was slightly longer than average. Carolyn Saacke, NYSE's COO of capital markets, said Goldman Sachs typically takes a bit longer with its IPOs, and said Levi's garnered a lot of interest from Main Street investors.
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