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Oct. 21, 2021, 9:02 a.m. EDT

Enfusion valued at $1.9 billion as IPO priced at top of expected range

Enfusion Inc. (NYS:ENFN) is set for its public debut Thursday, as the Chicago-based investment management software company's initial public offering priced overnight at $17 a share, at the top of the expected range of between $15 and $17 a share. The company sold 15.32 million Class A shares in the IPO to raise $260.5 million and selling shareholders sold 3.43 million shares to raise $58.3 million. With a total of 113.05 million Class A and Class B shares outstanding expected after the IPO, the pricing would value the company at $1.92 billion. The stock is expected to begin trading on the NYSE some time after the open, under the ticker symbol "ENFN." The company is going public at a time the Renaissance IPO ETF (PSE:IPO) has climbed 7.8% over the past three months while the S&P 500 (S&P:SPX) has tacked on 4.1%.

Link to MarketWatch's Slice.