Data storage provider Nutanix soars in market debut



Shares of Nutanix Inc (NTNX.O), an unprofitable provider of enterprise data storage, soared more than 80 percent in their market debut on Friday, highlighting demand for tech offerings in what has been a generally quiet year for IPOs.
Nutanix sold 14.87 million shares on Thursday, more than the expected 14 million, and priced them $16, above the anticipated range of $13 and $15, to raise about $238 million.
Nutanix's stock hit $29.67 in early trading, valuing the San Jose-based company at $4.05 billion, double the valuation it received in its last funding round in 2014.
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30 September 2016 in Science &Technology, Views: 38
Source: Reuters
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