Construction managment software firm Procore Inc. sold 9.47 million shares for $67 each in a May 20 initial public offering on the New York Stock Exchange. The technology startup and its bankers had marketed shares for $60 to $65 before its IPO, an exchange filing showed.
Listed under the ticker symbol PCOR, the stock outperformed its target and ended the trading day at $88 per share, giving the company a market value of more than $8.5 billion based on outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.