Dropbox said in a filing Wednesday morning that it was raising the expected range for its IPO pricing to between $18 and $20 a share. The prior range was between $16 and $18 a share. Reuters reported Monday that demand was strong and that Dropbox’s IPO was oversubscribed. Dropbox is expected to price late Thursday and begin trading on Friday. Cloud-based security firm Zscaler Inc. priced its own public offering above its elevated range last week, and shares proceeded to double in their first day of trading Friday. Spotify Technology is expected to complete its public listing in early April.
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