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Compuware-controlled Covisint's shares jump 36 pct in debut
September 26, 2013 / 3:04 PM / 4 years ago

Compuware-controlled Covisint's shares jump 36 pct in debut

Sept 26 (Reuters) - Shares of Covisint Corp jumped 36 percent to $13.57 in their market debut, valuing the cloud-based supply chain software provider, at about $494 million.

The company, controlled by business software maker Compuware Corp, raised about $64 million after selling 6.4 million shares at $10 each - the mid-point of its expected price range.

Covisint, which counts General Motors Co, AT&T Inc and Daimler AG among its major customers, cut its IPO size to up to $81 million from $100 million last week. (Reporting by Varun Aggarwal and Avik Das in Bangalore; Editing by Joyjeet Das)

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