Shares of big-data company Hortonworks jump in debut
(Reuters) - Shares of Hortonworks Inc, a big-data company spun off from Yahoo Inc, rose as much as 52 percent in their market debut, valuing the company at up to $1 billion (636.38 million pounds).
The IPO raised $100 million after it was priced at $16 per share, well above the expected range.
HortonWorks helps companies manage data through Hadoop, an open-source software that crunches massive amounts of data and is used by companies such as Facebook Inc, Twitter Inc and Amazon.com Inc.
Shares of the Palo Alto, California-based company opened at $24 on the Nasdaq and touched a high of $24.35.
Goldman Sachs, Credit Suisse and RBC Capital Markets were among the underwriters to the IPO.
(Reporting by Neha Dimri in Bengaluru; Editing by Sriraj Kalluvila)
