Thoma Bravo-backed SailPoint valued at $12.8 billion in stock market return

(Reuters) – Thoma Bravo-backed identity security company SailPoint was valued at $12.8 billion, after its shares opened in line with the offer price in their Nasdaq debut on Thursday.

The Austin, Texas-based company’s stock opened at $23 per share.

SailPoint, along with Thoma Bravo, raised $1.38 billion in an upsized initial public offering, selling 60 million shares at $23 each. They had earlier aimed for a sale of 50 million shares priced between $21 and $23.

(Reporting by Niket Nishant and Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)