Infoblox sees IPO priced at $12-$14 per share
(Reuters) - Infoblox Inc, which makes software and hardware for network automation, said it expects its initial public offering of 7.5 million shares to be priced between $12 and $14 each.
In a filing with the U.S. Securities and Exchange Commission, the company said it would sell about 5.7 million shares in the IPO, with the rest being offered by its selling stockholders.
At the top of its expected price range, Infoblox would have a market valuation of about $616 million.
The company, which is backed by venture capital firms like Sequoia Capital and Trinity Ventures, expects to list its shares on the New York Stock Exchange under the symbol 'BLOX.'
The Santa Clara, California-based company has picked Morgan Stanley and Goldman Sachs as the lead underwriters for the IPO.
The other underwriters are UBS Investment Bank, Pacific Crest Securities, JMP Securities and Stephens Inc.
(Reporting by Jochelle Mendonca in Bangalore; Editing by Supriya Kurane)
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