First Data Corp. Raises $2.56 Billion in Initial Public Offering

First Data Corp.'s IPO on Wednesday did not start off as successful as the company had planned. At $16 a share, the price is two dollars below the intended $18 to $20 range the payments-processing company was hoping for, according to a recent Bloomberg news article.

First Data was able to sell 160 million shares and is expected to garner $2.56 billion during its flotation, which also makes it the largest IPO of the year. The company intends to use the proceeds from the initial public offering to pay off long-standing debts.

It was hoping to come up with cash and equivalents of about $325 million, which is based on a $19 per-share pricing. The $16 per-share they ended up with has made a substantial difference and the company is not expected to pay off as much debt as first hoped.

Today, the company's market value is at $14 billion and will suffer strains on profitability because of debt loads that have yet to be paid off.

TechCrunch agrees that if the commerce-based technology company "weren't in such massive debt, it would likely be turning a tidy profit."

The article published on their website goes on to note that the scale of revenue First Data has been producing is actually quite impressive, pooling in $5.56 billion in the first half of the year. With these numbers, it's likely that they'll reach an 11-figure revenue by the end of 2015.

In addition to these latest updates, Albertsons Companies Inc. has decided to delay their IPO in favor of evaluating market conditions instead, according to Reuters. The source has requested not to be identified but divulges that the company is not likely to schedule an IPO in the immediate future.