UiPath rose 23% on its debut, closing at $69 per share, after it initially sold at $56 apiece, above the expected price range of $52 - $54. At the end of the trading session, UiPath was boasting a market value of $35.8 billion.
But if underwriters buy their allotted shares, UiPath’s listing will be the third-largest IPO for a US software company, after Snowflake’s $3.9 billion and Qualtrics’ $1.78 billion.
Daniel Dines, the company’s CEO, controls 88% of voting shares. He is the largest stakeholder, having more than 110 million shares valued at over $7 billion, based on Wednesday closing price.
UiPath is trading on the New York Stock Exchange under the symbol PATH.
At the moment of writing, UiPath stock price seems to continue its momentum, trading 5.34 higher.
Find out more about UiPath here!
Sources: Bloomberg.com, cnbc.com