SPLUNK, which makes software that collects and indexes data, said it expects its initial public offering of 13.5m shares to be priced between $8 and $10 apiece.
In a filing with the US Securities and Exchange Commission, the company said it plans to sell about 12.5m shares, with its selling stockholders offering the rest. At the top of its expected price range, the company would have a market value of about $925.3m.
Splunk’s revenue has nearly doubled each year for the last five years, but the company has not posted a full-year profit in the period. The company, which expects to list its stock on the Nasdaq under the symbol SPLK, is backed by private equity firms Sevin Rosen, August Capital and Ignition Partners.
Separately, Tumi Holdings, which makes luxury baggage and travel goods, said it expects its initial public offering of 18.8m shares to be priced between $15 to $17 each.
At the midpoint of the expected price range, Tumi will raise about $301m in gross proceeds.
City A.M. Reporter