Workday bumps up IPO price range to $24 to $26
In an optimistic move, Workday has revealed that it is bumping up its expected initial public offering range to anywhere between $24 to $26 per share.
For reference, the original projection in the S-1 filing with the United States Securities and Exchange Commission was $21 to $24 per share.
Considering the rocky patch that most tech companies have experienced while going public during the last year (see Facebook), Workday putting on a more positive front than the rest with this increase.
The goal for the enterprise Software-as-a-Service provider is to now raise approximately $568.75 million with this revision, leading to a valuation for Workday at roughly $4 billion.
Workday will begin trading on the New York Stock Exchange this Friday under the symbol, "WDAY." Morgan Stanley and Goldman Sachs have been enlisted as the lead underwriters for the IPO.
More Workday IPO analysis on ZDNet:
- Larry Dignan: Workday's IPO: 10 things to know
- Brian Sommer: Workday IPO - The company that Oracle won't acquire?
- Dennis Howlett: Understanding Workday's IPO filing | Workday 17 tackles time tracking