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Shares of Australian software maker Atlassian soar in IPO

Shares of Australian software maker Atlassian soar in stock market debut

Shares of Australian software maker Atlassian soar in IPO

NEW YORK (AP) -- Shares of Atlassian soared in their U.S. stock market debut Thursday valuing the Australian software maker at more than $5 billion.

Atlassian is the company behind HipChat, a private group chat and instant messaging service used by businesses. It also offers online software that lets co-workers work on documents together. Atlassian says it has more than 860 customers who spent $50,000 or more in 2015, including credit card issuer Visa Inc. and electric car maker Tesla Motors Inc.

The Sydney-based company raised $462 million in its initial public offering, selling 22 million shares at $21 per share. Its stock is trading on the Nasdaq stock exchange under the ticker symbol "TEAM."

Shares of Atlassian Corp. rose $6.60, or 31.4 percent, to $27.60 in afternoon trading Thursday.


Updated : 2021-09-18 04:23 GMT+08:00