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.
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.”
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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.