Cybersecurity company Netskope has completed its initial public offering (IPO), raising approximately $908 million after selling 47.8 million shares at $19 each. The IPO priced at the top of Netskope's marketed range.
The company began trading on the Nasdaq stock exchange under the ticker symbol "NTSK". On its first day, Netskope's shares opened at $23, rising more than 21% from the IPO price and valuing the company at about $8.79 billion.
Netskope is known for providing security and networking solutions, focusing on cloud and artificial intelligence-era technologies. The IPO marks another notable entry in a busy year for new stock listings.
Netskope provides cybersecurity and networking products aimed at protecting cloud-based and AI-powered systems.
Netskope raised about $908 million by selling shares at $19 each.
On its first day of trading, Netskope's stock price rose more than 21%, increasing the company's valuation to $8.79 billion.
Netskope trades on the Nasdaq under the ticker symbol 'NTSK.'
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