Shares of software services firm IntraLinks slide after IPO prices low, raising $143M
By APFriday, August 6, 2010
IntraLinks shares slide after IPO prices low
NEW YORK — Shares of software services firm IntraLinks are dropping after its initial public offering priced below expectations, raising $143 million.
IntraLinks Holdings Inc. priced 11 million shares at $13 Thursday, below the $14 to $16 range it expected.
The New York company offers cloud-based software to corporate clients, including Ford Motor Co. and Bank of America Corp. Cloud-based computing, which lets businesses access applications stored at other sites, is growing in popularity among corporate users.
IntraLinks expects to use the proceeds to pay down debt.
Shares ended unchanged at $13 in trading Friday on the New York Stock Exchange under the symbol “IL.”
YOUR VIEW POINT
