REDWOOD CITY — Cloud security company Qualys took in slightly more than $90 million in the final Silicon Valley IPO of the third quarter, and investors Friday pushed the price higher in another sign that the market for public offerings has rebounded from Facebook’s disappointing debut.
IT security companies have been the most popular tech IPOs since Facebook’s dismal performance on the public markets following its much-hyped debut. ServiceNow, a San Diego company, was the first big tech debut after Facebook, and it found gains of 37 percent in its first day of trading.
Palo Alto Networks charged more than twice as much as ServiceNow for its IPO shares — $42 vs. $18 — but still found similar gains, popping 27 percent higher on its first day of trading in July. Both stocks have continued to be popular — ServiceNow ended Thursday trading 122.4 percent higher than the IPO price, while Santa Clara-based Palo Alto Networks was 54.9 percent higher.
Redwood City-based Qualys did not immediately find the same reaction as the two larger companies Friday. The company priced its shares at $12, the midpoint of the stated range of $11 to $13, and began selling on the Nasdaq stock exchange at 7:40 a.m. Pacific time at the same price. By 9 a.m., the end of the morning session
We recommend you visit the following site for more complete information and related topics. Article source: http://www.mercurynews.com/business/ci_21653412/qualys-moves-slightly-higher-after-ipo-redwood-city