Arista Networks IPO priced at $43 per share - WSJ
June 5 (Reuters) - Arista Networks Inc shares have been priced at $43 each, the Wall Street Journal said, citing sources, valuing the network switch maker at about $2.75 billion.
Arista's IPO raised about $226 million, after its offering of 5.25 million shares was priced well above its expected price range of $36-$40.
The company, which competes with Cisco Systems Inc, makes network switches that handle traffic at large internet data centers for companies including Microsoft Corp, VMWare Inc, Facebook Inc, Yahoo Inc, Comcast Corp and Citigroup Inc.
Arista's shares are expected to start trading on the New York Stock Exchange on Friday under the symbol "ANET".
Morgan Stanley and Citigroup are the lead underwriters for the offering. (Reporting by Avik Das in Bangalore)
- Divided, Scots prepare to vote on fate of the United Kingdom |
- IPhone emerges from 'bygone era', reviewers hail bigger handset
- Fed renews zero rate pledge, but hints at steeper rate hike path |
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Islamic State campaign tests Obama's commitment to Mideast allies