Square begins trading above IPO price

Square Inc. has started trading on the New York Stock Exchange at $11.20 per share, $2.20 above its initial public offer price.

The mobile point-of-sale (POS) company headed up by Twitter chief executive Jack Dorsey was priced at $9 after the closing bell on Wednesday.

However, the company had set the price range earlier in November between $11 and $13 per share, which would value it at up to $4.2bn.

CNBC reported that Square is one of the most prominent companies valued over $1bn to plan a public offer this year.