Big Data Firm Talend Prices IPO Above Expectations
Talend, a 1o-year-old company that specializes in data management and analytics software, braved the uncertain IPO market Thursday and set its price higher than anticipated.
The company said it issued 5.25 million American Depositary Shares at a price of $18 per share, above the $15-$17 range it originally declared, raising $94.5 million.
That number could still grow. The underwriters (including Goldman Sachs, Citigroup, and Barclays) have a 30-day option to purchase up to 787,500 additional shares from Talend and an unnamed “selling shareholder” at the IPO price, according to a statement by the company. Talend’s stock is slated to start trading Friday on Nasdaq under the symbol “TLND.”
Talend sells software that helps organizations organize their existing databases and information resources; its technology enables systems for fraud detection, process automation, and business analysis, among other things. It has more than 1,300 customers, including Air France, Citi, and General Electric.
fortune.com
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