Stock Groups

Freshworks valued at $10.13 billion after raising $1.03 billion in U.S. IPO


© Reuters. FILE PHOTO – The Nasdaq Logo is shown at New York’s Nasdaq Market Site on September 2, 2015. REUTERS/Brendan McDermid/File Photo

(Corrects to add media packaging code)

NEW YORK (Reuters) – Business software firm Freshworks, which counts Accel and Sequoia Capital among its major backers, on Tuesday priced its U.S. initial public offering (IPO) well above the target range to raise $1.03 billion, a source familiar with the matter said.

Sources say Freshworks sold 28.5 millions shares at $36 per share. This is despite the fact that the matter remains confidential. Freshworks was valued at $10.13 million in the IPO.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.