Tableau Software shares soar 64% in trading debut
Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.
The Associated Press
Tableau Software shares soared nearly 64 percent in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.
Seattle-based Tableau Software Inc. provides software that helps businesses convert data into visual presentations.
The shares closed up $19.75, or 63.7 percent, at $50.75 Friday. Earlier, the company sold 5 million shares for $31 each and total proceeds of $155 million. Certain shareholders sold an additional 3.2 million shares at the same price for $99.2 million.
The shares are trading under the symbol "DATA."
The offering's underwriters - Goldman, Sachs & Co. and Morgan Stanley & Co. - have a 30-day option to buy up to 1.2 million more shares from Tableau, which would generate $38.1 million more in proceeds.