Asana Valued at $5.5 Billion After Direct Listing Debut
- Software firm rises on first day while Palantir sinks in debut
- CEO Moskovitz lauds ‘efficient pricing’ of direct listing
This article is for subscribers only.
Workplace management software maker Asana Inc. attained a market value of about $5.5 billion after a direct listing, one of two Wednesday to go public via the initial public offering alternative.
Shares of San Francisco-based Asana, which didn’t sell any shares, opened trading in New York at $27 apiece and closed up 6.7% from that price at $28.80 a share. The $5.5 billion valuation is based on a fully diluted share count.