Bill.com prices shares at $22 each in U.S. listing [Reuters (UK)]
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Source: Reuters
Bill.com prices shares at $22 each in U.S. listing - Reuters 2 Min Read (Reuters) - Bill.com Holdings Inc, which makes back-office automation software, on Wednesday priced its initial public offering at $22 per share, which equates to raising about $216.1 million. The pricing is slightly above the elevated $19 to $21 range the company had marketed and gives it a market capitalization of $1.56 billion, including the underwriters’ option. Founded in 2006, Palo Alto-based Bill.com offers cloud-based software that enables small and midsize businesses to automate back-office financial operations such as paying bills and getting paid. The fast-growing company saw revenue surge 67% to $108.4 million in the year ended June 30 from a year earlier, while limiting net loss, which edged up only 1.7% to $7.3 million. Bill.com is seen as an attractive option to small and midsize businesses that still use manual payment methods such as checks to make payments, and may not have the resources to build
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