WSJ.com - Salesforce Shares Climb In Public Trading Debut: "Salesforce.com Inc. shares rose sharply in their trading debut Wednesday, marking a triumph for the software company that weathered a series of setbacks and securities-law gaffes en route to the initial public offering.
After opening at the $11 offering price, shares of Salesforce.com, a customer-relations software company based in San Francisco, surged $6.20, or 56%, to close at $17.20 on the New York Stock Exchange.
The initial public offering of 10 million shares, led by Morgan Stanley, priced above estimates of $9 to $10 a share. That range was raised earlier this week from previous estimates of $7.50 to $8.50. The strong demand for the shares came despite some high-profile mistakes along the way to the public markets, including an earnings restatement and mandated delay in marketing the IPO because of comments made by the company's chief executive."
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.