Wednesday, June 27, 2012

ServiceNow IPO Pricing Expected Thursday

San Diego-based ServiceNow, the developer of software-as-a-service for enterprise IT management, is expected to price its IPO Thursday, as the first, technology-focused IPO since the Facebook debacle. The firm, which has set initial pricing range of its IPO at between $15.00 and $17.00 per share, is backed by JMI Equity and Sequoia Capital. The IPO is being underwritten by Morgan Stanley, Citigroup, Deutsche Bank Securities, Barclays, Credit Suisse, UBS Investment Bank, Pacific Crest Securities, and Wells Fargo Securities. A pricing of the stock on Thursday evening would mean the firm would start trading on Friday morning.