Financial technology company Chime Financial priced its initial public offering at $27 a share, above its marketed range, after demand that bankers said was roughly 20 times the shares on offer. The sale of new stock alongside shares from existing holders raised about $864 million and valued the San-Francisco-based neobank at roughly $11.6 billion. Chime’s shares began trading on Nasdaq under the symbol CHYM at $43, 59% above the offer price, and climbed as much as 66% in early dealings before settling with a gain of about 37%. The opening rally lifted the company’s market capitalisation to about $18.4 billion, underscoring investor appetite for high-growth consumer fintechs despite a subdued fundraising environment over the past two years. “This is an amazing day for our members,” Chief Financial Officer Matt Newcomb said in a broadcast interview. The listing is the largest Bay Area IPO since 2020 and arrives after a long lull in U.S. new-issue activity, which was curtailed by rising interest rates and valuation pullbacks. Chime went public at a 54% discount to the $25 billion valuation it reached in a 2021 private round, yet its strong debut may encourage other delayed fintech offerings from companies such as Stripe and Klarna to revisit the market.