October 12, 10:30 am EST – Workday (PrivCo Private Company Ticker: WORKP) began trading today on the NYSE, opening at $48.05, a huge 72% pop over its IPO price of $28 per share. Workday's opening trades are double its initially filing range of $21-$24, adding to the list of well received previous enterprise IPOs, such as Palo Alto Networks (PANW) and ServiceNow (NOW).
- At $48.05 / share, Workday musters an equity valuation of $7.7 billion, double the valuation it was seeking initially at the high end of its $21-$24 range.
See Below For PrivCo's Breakdown Of The Workday IPO:
1. Workday (PrivCo Private Company Ticker: WORKP)
Offering Size: 22.75 Million Shares (100% Primary)
Pricing: $28
Revenue (Fiscal Year End January 31): $264M (2013E) $134M (2012), $75.3M (2011), $25.2M (2010)
LTM Revenue: $199M
1 Year Revenue Growth (2011-2012): 78%
Offering Amount (Midpoint): $637 million
Ticker: NYSE:WDAY
Workday Equity Valuation: $4.48 Billion
Lead Underwriters: Morgan Stanley, Goldman Sachs & Co., Allen & Company LLC, J.P. Morgan
Co-Managers: Cowen and Company, JMP Securities, Pacific Crest Securities LLC, Wells Fargo Securities, LLC, Canaccord Genuity
Use of Funds: General corporate purposes, including working capital, acquisitions
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