Envivio revives IPO plans, to sell more shares

Wed Apr 11, 2012 7:05am EDT

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(Reuters) - Video delivery company Envivio Inc, which postponed its initial public offering last year due to uncertain market conditions, said it now expects to price its upsized offering of 7.8 million shares at $10 to $12 each.

The company had expected to sell 6 million shares at $10 to $12 each last June, before turbulent market conditions made several companies hold back their attempts to go public.

At the top end of its range, Envivio will raise $93.6 million in the offering. It had earlier expected to raise $72 million.

Envivio, which helps telecom operators and cable companies deliver high-quality video to consumers, also added Goldman Sachs and Deutsche Bank Securities to its list of underwriters.

Several companies unveiled their expected IPO terms this week, including data analytics company Splunk Inc, making April a likely busy month for public offerings.

(Reporting by Jochelle Mendonca in Bangalore; Editing by Supriya Kurane)