* Morgan Stanley and Deutsche Bank Securities lead
* Veeva intends to list on the NYSE under the symbol "VEEV"
Sept 11 Life sciences-focused software company
Veeva Systems Inc filed with U.S. regulators to raise up to $150
million in an initial public offering of its common stock.
Veeva, which competes with Oracle Corp, provides
web-based software for pharmaceutical company sales
representatives that allows them to track drug information and
to provide documentation and data to their sales forces.
The company's clients include some of the biggest
pharmaceutical companies in the world such as Novartis AG
, Merck & Co Inc, Eli Lilly and Co and
Reuters reported in April that Pleasanton, California-based
Veeva was planning an IPO that could come in the third quarter.
Morgan Stanley and Deutsche Bank Securities are the lead
underwriters for the IPO, Veeva told the U.S. Securities and
Exchange Commission in a preliminary prospectus on Wednesday.
The filing did not reveal how many shares the company
planned to sell or their expected price.
Veeva said its net income attributable to common
stockholders jumped to $3.48 million in the fiscal year ended
January 2013, from $599,000, a year earlier. Its net income
soared to $18.78 million from $4.23 million in 2012.
Revenue more than doubled to $129.54 million in the same
Venture capital firm Emergence Capital, which invested $4
million in 2008, is Veeva's largest shareholder with a more than
30 percent stake.
Net proceeds from the offering would be used for working
capital purposes, Veeva said. ()
The company intends to list its common stock on the New York
Stock Exchange under the symbol "VEEV".
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.