Datadog to fetch up to US$528m from IPO

摘要

The up to US$528m Nasdaq IPO of fast-growing IT monitoring software provider datadog looks like another lay-up for US tech ECM bankers, but turbulence in the stock prices of recent hot software IPOs is threatening to complicate pricing. Datadog, which boasts 80% top-line growth of 70% gross margins, early Monday launched the sale of 24m shares at US$19-$22. Lead underwriters Morgan Stanley, Goldman Sachs, JP Morgan and Credit Suisse expect to price the offering post-close Wednesday, September 18. Subscription software companies have long delivered the most predictable success in the US IPO market, though recent weeks have seen some of this year's big gainers (Zoom Video Communications, Medallia and CrowdStrike) stumble after the release of their quarterly earnings.