OneStream's shares rise nearly 30% in market debut (updated)
24/07/2024 16:46
(Adds details on IPO and background in paragraphs 3-4)
July 24 (Reuters) - KKR-backed OneStream's OS.O shares
rose nearly 30% in their Nasdaq debut on Wednesday, signaling
investor demand for fresh offerings in 2024.
OneStream's shares began trading at $26 apiece, giving the
company a valuation of nearly $6 billion.
The company's shareholders sold 24.5 million shares priced
above range at $20 apiece. OneStream had aimed to price its IPO
between $17 and $19 per share.
Founded in 2010, OneStream helps finance chiefs prepare and
report financial statements to regulators and investors.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shounak
Dasgupta)
((Pritam.Biswas@thomsonreuters.com))