Okta Inc. raised at least $187 million in an initial public offering that values the enterprise software startup at more than $1.35 billion. The company, which offers software that helps identify users across different corporate applications, announced Thursday afternoon that it had priced shares at $17 apiece, the top of a range that was increased earlier this week to $15 to $17 from an initial target of $13 to $15 a share. The valuation is a step up from the startup’s last private funding round, which sold shares at $12.02 and established a valuation of about $1.2 billion. The successful IPO continues a strong wave of stock debuts from enterprise-tech firms in the wake of the blockbuster debut for Snapchat parent company Snap Inc. Underwriters, led by Goldman Sachs, J.P. Morgan and Allen & Co., have access to another 1.65 million shares that could sell to boost the company’s windfall and valuation. Shares are expected to begin trading Friday on the Nasdaq Global Select Market under the ticker symbol OKTA.
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