The Softbank, Telstra and American Express-backed e-commerce software producer has closed its IPO after its shares more than tripled in price.
US-based online retail software provider BigCommerce, which counts corporates Softbank, Telstra and American Express among its investors, closed its initial public offering at approximately $249m on Friday.
The company issued 6.85 million shares on the Nasdaq Global Market on Wednesday priced at $24.00 each, with its co-founders selling another 2.2 million to take the size of the offering to $216m.
The underwriters bought more than 2.8 million more shares from the company and its founders through the over-allotment…
