Anaplan shares soared 42% in their trading debut.
The connected-planning platform priced its initial public offering at $17 a share, the high end of its range, raising more that $263.5 million through the sale of 15.5 million shares. Shares opened at $24.67 per share and ended at $24.18.
In its public filing, Anaplan said it generated $109.4 million of revenue for the first half of 2018, up from $77.8 million in the same period last year. It hasn't yet turned a profit and its net loss widened to $47.2 million this year by the end of June, from last year's $16 million.
"Anaplan is pioneering the category of Connected Planning, which allows organizations to transform their businesses by making better and faster decisions," the company said in its filing.
"We believe Connected Planning is the next essential cloud category. It fundamentally transforms planning by connecting all of the people, data, and plans needed to accelerate business value and enable real-time planning and decision-making in rapidly changing business environments."
Frank Calderoni, previously the CFO at the tech firms Cisco Systems and Red Hat, has served as Anaplan's CEO since the January 2017.
The lead book runners for the IPO were Goldman Sachs and Morgan Stanley. Barclays Capital also served as a book runner.
Anaplan trades on the New York Stock Exchange under the ticker "PLAN."
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