Oct 1 (Reuters) - Silicon Valley-based Workday Inc, which provides cloud-based human resource software, said it plans to sell 22.75 million Class A shares in its initial public offering at between $21 and $24 each.
The company had confidentially filed for an IPO in July under the Jumpstart Our Business Startups (JOBS) Act. It subsequently filed in August to raise up to $400 million in an IPO.
At the mid-point of the expected range, the offering will raise about $512 million, valuing the company at $3.6 billion.
Pleasanton, California-based Workday was co-founded by ex-PeopleSoft executives David Duffield and Aneel Bhusri who left PeopleSoft following its acquisition by Oracle Corp in 2004.