Workday increases proposed IPO range

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Workday, which provides on-demand software for human capital management to large enterprises, raised the proposed deal size for its upcoming IPO on Tuesday. The Pleasanton, CA-based company now plans to raise $569 million by offering 22.8 million shares at a price range of $24.00 to $26.00. The company had previously filed to offer 22.8 million at a range of $21.00 to $24.00. At the midpoint of the revised range, Workday will raise 11% greater proceeds than previously anticipated. Workday, which was founded in 2005 and booked $199 million in sales for the 12 months ended July 30, 2012, plans to list on the NYSE under the symbol WDAY. Morgan Stanley, Goldman Sachs, Allen & Company and J.P. Morgan are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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