Intel, Dell, Red Hat and Salesforce-backed database software provider MongoDB will float above its range at a market valuation of almost $1.2bn.
MongoDB, a US-based database software producer backed by several corporate investors, will raise $192m when it floats on the Nasdaq Global Market later today.
The company priced 8 million shares at $24.00 each yesterday, well above the $18 to $20 range it set earlier this month. The share pricing values the company at $1.17bn.
The IPO’s underwriters have a 30-day option to buy a further 1.2 million shares, which would push the size of the offering up to $228m.
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