(Reuters) – Software maker Jamf Holding Corp JAMF.O on Tuesday raised $468 million in its U.S. initial public offering, signaling strong demand for new issues in a market that has rebounded strongly from a coronavirus-induced slump.
The company priced its offering of 18 million shares at $26 per share, above its price range of $21 to $23. The offering was upsized from the previously announced 16 million shares.
IPO hopefuls have been capitalizing on the rebound in U.S. investor demand for new listings after the coronavirus outbreak slammed the brakes on capital markets.
Last week, shares of online insurance broker GoHealth Inc GOCO.O jumped 19% in their U.S. market debut.
Founded in 2002, Jamf makes software that helps companies manage their employees’ Apple Inc (AAPL.O) devices, and counts IBM Corp (IBM.N) and SAP (SAPG.DE) among its customers.
Many tech firms have benefited from companies allowing employees to work remotely, with the pandemic driving up demand for cloud computing services.
Jamf’s net loss narrowed to $8.3 million in the three months March 31, compared to $9 million a year earlier, it said in a filing bit.ly/2ZLldDS. Revenue jumped nearly 37% to $60.4 million.
Funds affiliated with Dragoneer Investment Group and Tiger Global Management have indicated interest in purchasing shares of up to $50 million each in the firm’s offering.
The company will list its shares on Nasdaq under the symbol “JAMF” on Wednesday.
Goldman Sachs, J.P. Morgan, BofA Securities and Barclays are among the lead underwriters to Jamf’s offering.
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