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REFILE-Inovalon shares rise 23.9 pct in market debut
February 12, 2015 / 4:27 PM / 3 years ago

REFILE-Inovalon shares rise 23.9 pct in market debut

(Corrects to add dropped word “pct” in headline)

Feb 12 (Reuters) - Class A shares of Inovalon Holdings Inc , a healthcare data analytics firm, rose as much as 23.9 percent in their market debut, valuing the company at about $4.83 billion.

The stock touched a high of $33.45 shortly after trading started on the Nasdaq on Thursday.

The company raised $600 million from the initial public offering of 22.2 million class A shares, making it the second biggest offering this year after Columbia Pipeline Partners LP raised $1 billion last week.

The company’s shares were priced at $27 apiece, above the expected range of $24-$26, raised from an initial $21-$24 range due to strong demand. (Reporting by Sudarshan Varadhan in Bengaluru; Editing by Joyjeet Das)

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