Shares of Jamf Holdings (JAMF) jumped by double digits Wednesday as the developer of software for Apple (AAPL) products held an initial public offering that widely exceeded expectations. The Jamf IPO raised $468 million, about 33% higher than expected.
The company offered 18 million shares, vs. earlier plans to offer 16 million shares. The shares priced at $26, above its estimated range of $21 to $23, an indication of high interest in the Jamf IPO among institutional investors. It initially set a price range of $17 to $19. At the IPO price, Jamf had a market valuation of about $3 billion.
According to the Jamf IPO filing, the company has more than 40,000 customers deploying more than 17 million Apple devices worldwide. It customers include IBM (IBM), Cisco (CSCO) and Salesforce.com (CRM). Companies and organizations use to its software to deploy, manage and secure devices made by Apple. Read the full story here.
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