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Yodlee prices IPO at mid point of expected range: joint bookrunner

Yodlee prices IPO at mid point of expected range: joint bookrunner

(StartName) – Software company Yodlee Inc <YDLE.O>, controlled by private equity firm Warburg Pincus, priced its initial public offering at $12 per share on Thursday, according to a joint bookrunner for the offering.

The company will raise about $75 million from the IPO at the offer price of $12, the mid point of its expected price range of $11 to $13 per share.

At $12 a share, the company would be valued at about $340 million.

Yodlee’s platform, known as the Yodlee Financial Cloud, is used by banks, Internet services companies and third-party financial app developers to track a consumer’s financial information.

The apps aggregate a consumer’s financial information and give it to a bank or personal finance website, allowing them to have a complete view of the end users’ finances.

Yodlee, which also counts Bank of America Corp <BAC.N> as a major shareholder, sold all the 6.25 million shares in the offering.

Goldman Sachs & Co, Credit Suisse and BofA Merrill Lynch are among the major underwriters of the offering.

(Reporting By Sudarshan Varadhan; Editing by Steve Orlofsky)

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