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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Accenture Plc | NYSE:ACN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.415 | 0.14% | 304.125 | 306.79 | 303.27 | 305.17 | 752,843 | 17:10:36 |
By Colin Kellaher
Duck Creek Technologies Inc. on Wednesday raised the expected pricing range of its initial public offering of 15 million shares to $23 to $25 apiece from a prior range of $19 to $21 each.
At the $24 midpoint of the new range, the Boston provider of software and services to the insurance industry said it expects net proceeds of about $333.7 million, or roughly $384.7 million if the underwriters exercise an option to buy an additional 2.25 million shares.
In a filing with the Securities and Exchange Commission, Duck Creek said it would have about 130.6 million shares outstanding after the IPO, assuming exercise of the overallotment option, for a valuation of about $3.13 billion at the $24-a-share midpoint.
Duck Creek said funds advised by private-equity firm Apax Partners L.P. will own a roughly 33.2% stake, assuming exercise of the greenshoe, while Accenture PLC will own about 22.1%.
Duck Creek said it has applied to list its shares on the Nasdaq Global Market under the symbol DCT.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 12, 2020 09:22 ET (13:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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