An Australian software company has made more than $500 million overnight after their stocks jumped 33 per cent on the US stock market.
Atlassian, a Sydney-based company, added the $500 million to their existing net value of $8 billion AUD when they floated shares of their stock on the New York market at around $28.05 US apiece.
During the oversubscribed float, Atlassian sold 2.3 million shares on the Nasdaq – or, as the Sydney Morning Herald reports “equivalent to about 10 per cent of the new shares sold in the IPO”.
Atlassian makes management and chat software for companies around the world, including NASA, Tesla Motors, and the US Department of Treasury.
Atlassian was founded by two University of NSW graduates, Mike Cannon-Brookes and Scott Farquhar, who have retained 66 per cent of the company, raking in almost $2.7 billion each.
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