Ping Identity Holding Corp. /zigman2/quotes/214130089/composite PING +8.38% priced its initial public offering at $15 a share Wednesday evening, valuing the software company at more than $1 billion. Ping said it planned to sell at least 12.5 million shares at that price to raise at least $187.5 million at an initial valuation of about $1.16 billion. Vista Equity Partners acquired Ping in 2016 for an undisclosed sum, though The Information reported that Vista paid $600 million for the company. Vista will retain control of the company, holding more than 80% of the shares after the IPO. Underwriters - led by Goldman Sachs, BofA Merrill Lynch, RBC Capital Markets and Citigroup - have access to an additional 1.88 million shares that could drive the totals higher. Ping Identity is expected to begin trading Friday morning on the New York Stock Exchange under the ticker symbol PING.