On Thursday, Atlassian Corporation Plc (NASDAQ:TEAM) opened up 32% at $27.67 after initial public offering in Nasdaq Market. The company is a leading provider of collaboration software for teams with products including Confluence, JIRA, Bitbucket and HipChat. Atlassian was founded in Sydney, Australia, having six offices and more than 51,000 customers across more than 160 countries today.
"Atlassian takes an innovative approach to software development and collaboration - delivering a transformational impact on organizations' productivity and performance," said Nelson Griggs, Executive Vice President, Listing Services, Nasdaq. "We are excited to support Atlassian's continued success as they help teams of all sizes across all industries realize their visions and deliver extraordinary results."
On Wednesday, Atlassian announced the pricing of its IPO price at $21 per share for 22,000,000 shares which are all being offered by Atlassian. Moreover, some selling shareholders have offered the underwriters a one-month option to purchase up to 3,300,000 additional shares from them at the IPO price.
Atlassian is the last company slated to IPO this year, raised its suggested price range earlier this week and added more shares to issuing, which as same as a U.S. company has done on July.
The company is expected to raise $462 million which increased from $370 million when it started shopping its IPO to investors last week. The valuation of Atlassian is $4.4 billion.
Atlassian’s public debut would be a bright spot under dim U.S. IPO market if the company continues success. Technology company founders, bankers and investors are all wish the strong Atlassian debut could broader implications for the health of the IPO market in 2016.