Coding platform GitLab valued at US$13.48 billion in strong market debut

GitLab Inc shares opened about 22per cent above their offer price in their Nasdaq debut on Thursday, giving the software development platform a market capitalization of US$13.48 billion.

The company, whose customers include Nvidia Corp, Siemens AG and Goldman Sachs Group Inc, sold 8.42 million shares in its IPO. A selling stockholder affiliated with co-founder and Chief Executive Officer Sytse Sijbrandij sold 1.98 million shares. Software and technology companies such as UiPath Inc and Coupang Inc have made strong U.S. market debuts in the past year, thanks to robust investor appetite for high-growth companies.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japanese medical devices maker PHC stock drops in market debutTOKYO : Shares of Japanese medical devices maker PHC Holdings Corp, formerly Panasonic Healthcare, dropped more than 10per cent from their initial public offering price in their Tokyo stock market debut on Thursday morning.PHC had priced its initial public offering at 3,250 yen per share, at the bottom of
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Indonesia needs US$200 billion annual investment in 2021-2030 to decarbonise: GovernmentJAKARTA, Oct 13 (Reuters) - Indonesia will need to invest US$150 billion to US$200 billion per year in low carbon programmes over the next nine years to meet its goal to reach net zero carbon emissions by 2060 or sooner, a new government study showed on Wednesday (Oct 13). Indonesia, the world\u0027s eighth-big
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »