The New York Stock Exchange on Tuesday set a reference price of $7.25 for US Central Intelligence Agency-backed Palantir Technologies Inc's direct listing.

The reference price values the data analytics provider at around $15.76 billion, lower than its most recent valuation of $20 billion from a fundraising in 2015.

Palantir is going public through a direct listing, rather than a traditional initial public offering, and its shares are set to start trading on the NYSE on Wednesday under the symbol "PLTR".