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Veeva Systems prices IPO at $20, above the upwardly revised range

By: Renaissance Capital
Posted: 10/15/2013 8:01:00 PM
Referenced Stocks: VEEV

Veeva Systems, which provides cloud-based CRM software solutions for the life sciences industry, raised $261 million by offering 13.045 million shares (25% insider) at $20, above its upwardly revised $16-$18 range. The Pleasanton, CA-based company originally planned to offer shares at $12-$14. At its offer price, Veeva Systems commands a fully diluted market value of $2.9 billion and an enterprise value of $2.7 billion.