It just keeps getting better for Australia’s greatest startup success story.
Cloud-based workplace collaboration software provider Atlassian has won the largest ever valuation for a publicly-listed Australian tech company after locking in a higher than expected share price.
The homegrown startup has sold $US462 million-worth of shares to trade through the listing, giving it a valuation of more than $6 billion ($US4.4 billion).
The shares will be priced at $US21 following keen interest from institutional investors during a roadshow this week.
That’s above the price listed earlier this week of between $US19 and $US20, which itself was 22% higher than the original setting.
The deal is significantly over-subscribed, meaning there’s likely to be lots of interest from those who missed out when it does officially list on the NASDAQ.
The last public listing of a tech company for the year could also be the most successful, with many other startups forced to cut private valuations due to low demand.
As Re/Code reports, the Aussie startup’s IPO has already got all of Silicon Valley talking, and there’s a lot riding on it.
The company has been profitable since its inception and last year posted revenue of $US320 million.