Udemy set for public debut after IPO prices at top of expected range, valuing company at nearly $4 billion


Udemy Inc. UDMY, -5.17% is set to make its public debut Friday, after the California-based online-learning platform said overnight that its initial public offering priced at $29 a share, at the top of the expected range of between $27 and $29 a share. The company sold 14.5 million shares in the IPO to raise $420.5 million. With 137.43 million shares expected to be outstanding after the IPO, the pricing values the company at $3.99 billion. The stock is expected to start trading on the Nasdaq some time after the open under the ticker symbol “UDMY.” The company is going public at a time of relatively strong investor interest in IPOs, as the Renaissance IPO ETF IPO, +0.28% has climbed 8.6% over the past three months while the S&P 500 SPX, +0.19% has gained 4.0%.

This article was originally published by Marketwatch.com. Read the original article here.

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