The digital branding company cut the size of its shares prior to flotation, only to see the price rise after it went public.
TubeMogul, a US-based provider of digital branding software backed by telecommunications firm SingTel, raised $43.75m in an initial public offering on Friday after it floated at the bottom of its range.
The company filed for a $75m IPO in March, only to slash the target to $50m when it set a range of $7-$8 the day before it went public. It sold 6.25 million shares priced at $7.00 each through the offering.
SingTel invested $10m in TubeMogul,…
