Workday bumps up IPO price range to $24 to $26

Summary:Workday is getting more hopeful as before it goes public this week, bumping up its expected IPO range to between $24 and $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:

Topics: Enterprise Software, Cloud, Software, Tech Industry

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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