Atlassian Surges in Trading Debut as Last IPO of 2015
10 Dicembre 2015 - 6:40PM
Dow Jones News
Shares of software development tools maker Atlassian Corp.
surged in their trading debut, helping the battered U.S.
initial-public-offering market end 2015 on a high note.
The stock opened up 32% at $27.67 after the offering priced
above the projected range on Wednesday, at $21 a share, the first
time an IPO has come above its range since September, according to
Dealogic.
Atlassian, the last company slated to IPO this year, raised its
proposed price range earlier this week and added more shares to the
offering, the first time a U.S. company has done so since July.
The original range of $16.50 to $18.50 had been raised to $19 to
$20.
The company is set to raise $462 million, up from a maximum of
$370 million when it first began shopping its IPO to investors last
week. The IPO values the business at $4.4 billion. The shares trade
under the symbol "TEAM."
If it continues to be successful, Atlassian's public debut would
be a bright spot in an otherwise dim U.S. IPO market.
The U.K.-registered company, which was founded in Australia in
2002 and has a big presence in San Francisco, achieved an IPO price
tag that is well above its private valuation. A handful of other
tech startups, including mobile payments startup Square Inc.,
priced their IPOs below both their initial range and their private
valuations.
Bankers, tech company founders and investors are hoping a strong
Atlassian debut has broader implications for the health of the IPO
market in 2016. The offering was led by bankers at Goldman Sachs
Group Inc. and Morgan Stanley.
Write to Telis Demos at telis.demos@wsj.com
(END) Dow Jones Newswires
December 10, 2015 12:25 ET (17:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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