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Sept. 20, 2021, 11:08 a.m. EDT

Freshworks raised expected pricing of IPO, boosting possible valuation to up to $9.6 billion

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By Tomi Kilgore

Freshworks Inc. /zigman2/quotes/229432462/composite FRSH -1.18% said Monday that the expected pricing of its initial public offering has increased, to between $32 and $34 a share from between $28 and $32 a share. The company is still looking to offer 28.5 million shares in the IPO, so the what the company is expected to raise has increased to up to $969.0 million from up to $912.0 million. The total number of shares outstanding after the IPO remains 281.43 million shares, so the company's expected valuation increases to up to $9.57 billion from $9.01 billion with the expected pricing increase. The California-based customer experience and IT service management software company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -2.70% has gained 5.1% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.90% has advanced 4.7%.

/zigman2/quotes/229432462/composite
US : U.S.: Nasdaq
$ 35.22
-0.42 -1.18%
Volume: 756,647
Nov. 30, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.24 billion
Rev. per Employee
$69,640
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 63.04
-1.75 -2.70%
Volume: 171,358
Nov. 30, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,567.00
-88.27 -1.90%
Volume: 3.94B
Nov. 30, 2021 4:20p
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