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Originally published May 17, 2013 at 8:08 AM | Page modified May 17, 2013 at 6:43 PM

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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

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NEW YORK —

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.

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