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Sept. 19, 2019, 11:09 a.m. EDT

Ping Identity's stock soars at open, with first trade 25% above IPO price

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By Tomi Kilgore

Ping Identity Holding Corp. /zigman2/quotes/214130089/composite PING -7.16% investors cheered as the software company went public, with the stock opening 25% above its initial public price of $15 a share. The newly public stock's first trade was $18.75 at 10:58 a.m. Eastern for 1.7 million shares. The stock has pared some gains since, to be up 24% in recent trading. The IPO priced at $15 at late Wednesday, which was in the middle of the expected pricing range of $14 to $16, and to value the company at about $1.16 billion. The company sold 12.5 million shares in the IPO to raise $187.5 million. The company went public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.08% has lost 5.0% over the past three months and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.05% has gained 3.1%.

Read the full story:
Ping IPO pops 25% in debut

/zigman2/quotes/214130089/composite
US : U.S.: NYSE
$ 26.58
-2.05 -7.16%
Volume: 1.23M
Feb. 21, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.28 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 34.71
-0.38 -1.08%
Volume: 8,609
Feb. 21, 2020 8:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,337.75
-35.48 -1.05%
Volume: 2.12B
Feb. 21, 2020 5:16p
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