SOFTWARE security company Palo Alto Networks, online travel service Kayak Software and legendary guitar maker Fender yesterday set the expected price ranges for their initial public offerings, prodded by a successful debut by IT software company ServiceNow.
Palo Alto Networks expects to sell 6.2m shares between $34-$37 each. At the high end of the price range, that would value it at $2.4bn. Kayak expects to sell 3.5m shares from $22-$25 each. At the high end of its range, Kayak is expected to be valued at $964m. Fender expects to raise as much as $160.5m, valuing it at about $395m.
City A.M. Reporter