Communications software provider Twilio Inc defied stock market volatility prompted by Britain's referendum on European Union membership by raising $150 million, a higher amount than it had originally targeted.
Market jitters and fluctuations in technology stocks have kept investors skittish about the sector, making Twilio's offering only the third US technology IPO of 2016. Uncertainty over the so-called Brexit vote, scheduled for Thursday, added to the volatility.
San Francisco-based Twilio priced $10 million shares on Wednesday at $15, above its previously indicated $12-$14 range, according to a statement.
Comments
Comments are closed.