Cloud software company Anaplan (PLAN) raised $263.5 million with an initial public offering that priced at the high end of its range and is set to trade Friday.
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The Anaplan IPO priced 15.5 million shares at 17. That was the high end of its upwardly revised price range of 15 to 17, suggesting strong interest from institutional investors. Anaplan initially set a price range of 13 to 15.
In the Anaplan IPO prospectus, the San Francisco-based company calls itself a pioneer in a category it calls connected planning, helping companies make better and faster decisions.
"Connected Planning enables dynamic, collaborative, and intelligent planning across all areas of an organization, including finance, sales, and supply chain, and other corporate functions such as marketing, human resources, and operations," the company said in its prospectus.
Anaplan uses a subscription based software-as-a-service subscription business model.
Anaplan Customers
As of July 31, Anaplan had 979 customers using its platform. Customers include Coca-Cola (KO), VMware (VMW) and HP Inc. (HPQ)
The Anaplan IPO is to trade on the New York Stock Exchange Friday morning under the symbol PLAN.
For the six-month period ended July 31, Anaplan reported revenue of $109.4 billion, up 41% from the year-ago period. It reported a net loss of $47.2 million in the period vs. a $16 million loss.
The biggest stock market winners typically make their major price moves within a few months or years of their initial public offering. So it pays to identify and track companies getting ready to go — or have recently gone — public.
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