Veeva Systems stock soars on debut

October 16, 2013

Shares of Veeva Systems Inc. are soaring in their trading debut Wednesday after the cloud-based software company raised about $261 million in its initial public offering.

Veeva Systems, which is based in Pleasanton, Calif., makes software for .

The company priced its IPO at $20 per share. That's above the $16 to $18 per share it previously expected.

The stock is up $16.21, or 81 percent, to $36.21.

Veeva Systems did not specify how it would use the money it raises, but said it may use it for acquisitions or investing in other businesses. Its shares are trading on the New York Stock Exchange under the symbol "VEEV."

Explore further: Marin Software rises in debut on the NYSE

Related Stories

Tableau Software soars in trading debut

May 17, 2013

(AP)—Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.

Recommended for you

Magnetic fields provide a new way to communicate wirelessly

September 1, 2015

Electrical engineers at the University of California, San Diego demonstrated a new wireless communication technique that works by sending magnetic signals through the human body. The new technology could offer a lower power ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.