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Share Name | Share Symbol | Market | Type |
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Sap SE | TG:SAP | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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2.22 | 1.32% | 170.62 | 170.36 | 170.86 | 171.18 | 168.40 | 168.76 | 16,101 | 22:50:02 |
By Colin Kellaher
Qualtrics International Inc., the customer-relationship-management software vendor owned by Germany's SAP SE, on Tuesday said it plans to sell about 49.2 million shares at between $22 and $26 apiece in its initial public offering.
At the $24 midpoint of that range, the Provo, Utah, company said it expects net proceeds of about $1.12 billion, or roughly $1.285 billion if the underwriters exercise an option to buy an additional 7.38 million shares.
Qualtrics said funds affiliated with Silver Lake Technology Management LLC have agreed to buy $550 million of stock in a concurrent private placement.
SAP, which in late 2018 agreed to buy Qualtrics for about $8 billion as the startup was on the cusp of going public, would still hold 98% voting power after the IPO.
In a filing with the U.S. Securities and Exchange Commission, Qualtrics said it would have roughly 510.2 million shares outstanding after the IPO, assuming exercise of the overallotment option, for a market capitalization of about $12.24 billion at the $24-a-share midpoint.
Qualtrics said it has applied to list its shares on the Nasdaq Global Select Market under the symbol XM.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 19, 2021 08:16 ET (13:16 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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