By Mike Murphy
Freshworks Inc. priced its initial public offering at $36 a share Tuesday night, above its expected range of $32 to $34 a share. That range had already been upgraded from the original $28- to $32-a-share range.
The San Mateo, Calif.-based company, which provides customer experience and management services as well as IT management products, will sell 28.5 million shares, with an additional 2.85 million shares to cover overallotments, raising more than $1 billion.
The IPO will value the company at about $10.1 billion.
Shares are expected to begin trading Wednesday on the Nasdaq Global Select Market under the ticker symbol “FRSH.”
Morgan Stanley, J.P. Morgan and BofA Securities are acting as lead book-running managers.