Analytics and visualization vendor Tableau Software introduced itself to Wall Street on May 17 by ringing the opening bell and starting sales of 8.2 million shares of common stock at $31. The stock opened at $47 a share and its value stayed high all day, closing at $50.75, up nearly 64 percent.
Opting for the stock ticker symbol “DATA,” Tableau CEO and Co-Founder Christian Chabot and other leaders and employees of the vendor rang the bell on the floor of the New York Stock Exchange to signify the start of the trading day. Tableau itself will offer 5 million of the shares, with the rest offered by certain selling stockholders, according to a company release. Underwriters have also been granted a 30-day option to purchase an additional 1.23 million shares of common stock from Tableau. Initial public offering share sales are set to bring Tableau between $155 million and $254 million, the biggest tech IPO since HR specialist Workday raised $730 million in October, according to data compiled by Bloomberg.
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