(NEW YORK)—The tech IPO market continues to show strength with successful launch with initial listings last week of both Smartsheet, and DocuSign.
Both stocks popped following the opening bell, with Smartsheet (NASDAQ:SMAR) opening at $18.40, up 22% from its IPO price of $15, while DocuSign (NASDAQ:DOCU) priced opened around $38 after being priced at $29, for more than 30% jump.
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DocuSign raised $629 million, with $470 million going to the company and the rest collected by investors and insiders.
SmartSheet raised roughly $139 million in their offering, with lead underwriters being Morgan Stanley, J.P. Morgan, Jefferies and RBC Capital Markets.
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