The Bellevue company, which helps corporate clients manage their IT operations, is raising $96 million in its stock-market debut.
Bellevue technology company Apptio priced its initial public offering of stock at $16 per share Thursday.
That’s higher than its anticipated price range of $13 to $15 a share. The stock will start trading Friday on Nasdaq under the ticker APTI.
The company is selling 6 million shares, according to updated documents filed with the Securities and Exchange Commission. That means Apptio would make $96 million in its IPO.
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Apptio provides cloud-based software that helps corporate IT departments manage equipment, usage and costs. The 700-employee company is led by entrepreneur Sunny Gupta, who co-founded Apptio in 2007.
Friday’s offering will mark the second tech IPO from Puget Sound region companies this year, ending a drought that persisted throughout 2015. Radio frequency technology company Impinj raised about $67.2 million when it went public in July.