Posted by: Market Watch in Market Information 1 hour in the past Duck Creek Applied sciences Inc.’s preliminary public providing priced late
Duck Creek Applied sciences Inc.’s preliminary public providing priced late Thursday above the anticipated vary, because the Boston-based supplier of software-as-a-service (SaaS) for the property and casualty insurance coverage trade raised $405 million. The corporate bought 15 million shares at $27 a share, above the anticipating pricing of $23 to $25 a share, which was raised from a beforehand anticipated vary of $19 to $21. With 128.Three million shares excellent, the IPO pricing values the corporate at $3.46 billion. If the underwriters train all of the choices to purchase further shares, the corporate might increase $465.eight million and be valued at $3.53 billion. Goldman Sachs, J.P. Morgan and BofA Securities are the lead book-running managers. Duck Creek goes public at a superb time for the IPO market, because the Renaissance IPO ETF has rallied 31.0% over the previous three months, whereas the S&P 500 has gained 18.3%.Market Pulse Tales are Speedy-fire, brief information bursts on shares and markets as they transfer. Go to MarketWatch.com for extra data on this information.
Learn Full Story
