Wednesday, March 14, 2018

Zscaler Ups Estimated IPO Pricing Range

San Jose-based cloud security appliance developer Zscaler has bumped its estimated IPO pricing range, saying in a filing that it now hopes to sell 12,000,000 shares of its common stock at between $13.00 and $15.00 a share. The pricing range had been set earlier to between $10.00 and $12.00 per share. Zscaler says it plans to trade on the Nasdaq Global Market as ZS. Zscaler's biggest shareholder is TPG, but it also has received funding from such companies as EMC Ventures, Dell Technologies Capital, Lightspeed Venture Partners and CapitalG. The bump in pricing typically indicates greater-than-expected demand for the company's IPO offering among institutional investors.