Jamf has officially made an impressive market entrance. After formally announcing the launch of the company’s IPO earlier this month (with whispers circling much earlier than that), the Apple-management software giant burst onto the trading scene today at $46 a share (the IPO was priced at $26 on Tuesday, higher than the initial $21-$23 estimate).
It didn’t stop there.
Shares of the Minneapolis company quickly shot up to $51 — giving the company a market cap of $5.9 billion — before settling down a bit (the market is still open at the time of publication). Currently, Jamf stock is hovering at around $40 a share, representing a significant splash for the company’s public debut.
Today, we officially list with @Nasdaq and become a public company. We’ve cherished every moment getting to this point and can’t wait for the next chapter in #Apple Enterprise Management. #JamfIPO https://t.co/HnmAySZwO5 pic.twitter.com/pcozSdg1Sd
— Jamf (@JamfSoftware) July 22, 2020
In 2017, Vista Equity Partners acquired a majority of Jamf for $733.8 million. Thanks to the impressive market performance today, that stake is now worth more than $4.5 billion.
Not a bad investment.
Update: Prices of the opening trade and IPO range have been updated.