Fitbit (FIT) set a record as the largest tech IPO this year, raising $732 million with its initial public offering that priced late Wednesday, a sign of investor confidence in the wearables firm even amid growing competition from the Apple (AAPL) Watch and others. Fitbit, the leading maker of wearable health and fitness trackers priced 36.6 million shares, 2.1 million more than planned, at 20, above the upwardly revised range of 17 to 19. That
Living up to the reported pandemonium, Fitbit (FIT) on Tuesday raised the price of its initial public offering 38% above its previous range. The company now plans to raise $621 million, at the midpoint of the new price’s range, up from $448.5 million. That would make it the fifth-largest IPO on U.S. markets this year, out of 78 thus far. Fitbit, the leading maker of wearable health and fitness tracking devices, plans to offer 35.5 million shares
Investor interest in the upcoming Fitbit (FIT) initial public offering is soaring, reaching a level that one underwriter reportedly referred to as “pandemonium.” Fitbit, the leading maker of wearable health and fitness tracking devices, plans to raise about $448.5 million by offering 29.9 million shares at 14 to 16. The price range is likely to be raised by Tuesday, said Scott Sweet, senior managing partner at research firm IPOboutique.com. Sweet,