DigitalOcean, the cloud computing upstart who debuted in the stock markets in great excitement, didn’t end its first day with a similar result. On the first day of trading, shareholders were involved in the bulk sale, which resulted in a 10% drop in the company’s IPO share price. The stock, which was listed on the New York Stock Exchange on Wednesday, closed at $ 42.50, or nearly 10% below its IPO price.

The startup, a provider of cloud-based services to software developers, startups, and small businesses, has budgeted for an IPO of 16.5 million common shares at $ 47 each, and eventually raised $ 776 million. That price at the high end of the expected range of $ 44-47 per share gave the company a market cap of $ 5.8 billion at full dilution. The stock started at $ 41.50 per share, well below the $ 44-47 per share range the company had listed in updates to its IPO prospectus.

The company prospectus showed that the start-up …



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