April 16, 2012 / 10:40 AM / in 6 years

UPDATE 1-Splunk raises expected price range of IPO

* Now sees IPO priced at $11-$13/shr

* Had earlier expected IPO price range to be $8-$10/shr

April 16 (Reuters) - Splunk Inc, which makes software that collects and indexes data, raised the expected price range for its initial public offering of 13.5 million shares to between $11 and $13 apiece.

The company had earlier expected the shares to be sold at between $8 and $10 each.

At the top end of the new expected price range, the company will have a market value of about $1.2 billion.

Organic food maker Annie’s Inc had also raised its expected IPO price range in March, days before its shares were began trading.

San Francisco, California-based Splunk plans to sell about 12.5 million shares in the offering, with some selling stockholders offering the rest.

As of Jan. 31, Splunk had over 3,700 customers, including Autodesk, Bank of America, Comcast, Harvard University, Viacom and Zynga.

Morgan Stanley, Credit Suisse, J.P. Morgan, BofA Merrill Lynch are lead underwriters to the offering.

Splunk expects to list its stock on the Nasdaq under the symbol “SPLK.”

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