-Business software company Freshworks Inc's shares opened nearly 21per cent above the initial public offering price in their Nasdaq debut on Wednesday, giving the Salesforce.com rival a valuation of US$12.2 billion.Freshworks joins a wave of listings from the software and technology sector, most of which have been welcomed by investors who see room for growth even after the COVID-19 pandemic as more companies embracing hybrid work drive up demand for such products.
On Tuesday, the company priced its IPO US$2 above the top end of the range to raise US$1.03 billion. The San Mateo, California-based firm had raised its price range, aiming to sell 28.5 million shares between US$32 and US$34 each.Source: Reuters
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