Business Corpus: Anaplan IPO Shares Soar As Trading Begins, Raises $263.5 MillionThe Anaplan IPO priced 15.5 million shares at 17, the high end of its upwardly revised price range, suggesting strong interest from institutional investors. The post Anaplan IPO Shares Soar As Trading Begins, Raises $263.5 Million appeared first on Investor's Business Daily.

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Shares of cloud software company Anaplan (PLAN) soared Friday, with an initial public offering that priced at the high end of its range and raised $263.5 million.

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.

Shares opened at 24.25 for a gain of 43% on the stock market today. During afternoon trading, Anaplan was near 22.50, up 32%.

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.

Among other IPOs, Equillum (EQ) priced 4.7 million shares at 14, the low end of its price range, raising $66 million. The company is developing therapies for severe immuno-inflammatory disorders. Shares opened Friday at 14.35, for a gain of 2%. During afternoon trading shares were back at 14.

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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