Tags: workday | cloud | software | ipo

Cloud Software Maker Workday Files for IPO

Thursday, 30 Aug 2012 05:33 PM

 

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Workday Inc, which provides cloud-based human resource software, filed with regulators to raise up to $400 million in an initial public offering of its Class A common stock.

Reuters in July reported that the Silicon Valley business software company was on track for the largest market debut since Facebook Inc's botched debut chilled demand for U.S. IPOs.

The company, backed by Amazon.com Inc Chief Executive Jeff Bezos, was said to have confidentially filed for an IPO in July under the new "JOBS" Act, which lets companies keep financial details contained in IPO documents private for longer.

In a preliminary prospectus with the U.S. Securities and Exchange Commission on Thursday, the company listed Morgan Stanley and Goldman Sachs & Co as lead underwriters to the offering.

The filing did not reveal how many shares the company planned to sell or their expected price.

Workday intends to list its Class A common stock under the symbol "WDAY", but did not reveal the exchange on which it will list the shares.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

© 2014 Thomson/Reuters. All rights reserved.

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