Data analytics company Workiva files for IPO
(Reuters) - Workiva Inc, a cloud-based data analytics company, filed with U.S. regulators for an initial public offering of Class A common shares.
Morgan Stanley and Credit Suisse are among the major underwriters for the offering, the company said in a regulatory filing on Friday. (http://1.usa.gov/1sRMQoe)
Workiva's platform Wdesk helps companies collect, manage, report and analyse critical business data in real time.
The company had more than 2,100 enterprise customers as of Sept. 30, including JPMorgan Chase & Co, Philip Morris International, Boeing Co and Wal-Mart Stores Inc.
The filing included a nominal fundraising target of about $100 million. The company did not say how many shares it plans to sell or their expected price.
Workiva said it planned to list its stock on the New York Stock Exchange under the symbol "WK".
Net proceeds from the offering will be used for working capital and general corporate purposes, Workiva said.
The Ames, Iowa-based company's net loss widened to $28.4 million (17.65 million pounds) in the nine months ended Sept. 30 from $22.5 million, a year earlier. Revenue rose about 34 percent to $82.6 million.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Avik Das in Bangalore; Editing by Kirti Pandey)
