Splunk Surges After Pricing Above Range in Web Data IPO
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Splunk Inc., a maker of software that helps companies analyze Web data, more than doubled on its first day of trading after pricing its shares 70 percent above the originally proposed range in an initial public offering.
The stock, listed on the Nasdaq Stock Market under the symbol SPLK, climbed to $35.48 at the close in New York. The San Francisco-based company raised $229.5 million in its IPO, selling 13.5 million shares at $17 apiece, it said in a statement yesterday. Splunk’s market value of $1.57 billion at the time of the sale jumped to $3.28 billion.