Dynatrace US$570m IPO oversubscribed

摘要

DYNATRACE, an IT monitoring company backed by Thoma Bravo, saw its shares soar as much as 65% on debut on Thursday as investors stormed yet another subscription software IPO. Dynatrace's IPO printed as 35.6m shares at US$16 apiece, above the US$13-$15 range that was upped from US$11-$13 earlier in the week. Dynatrace is using the bulk of the nearly US$570m raised on the offering to repay debt. On the NYSE debut, Dynatrace shares broke for trading on Thursday at US$25.50, ticked a high of US$26.37, and closed first-day trading at US$23.85, 49% above offer.