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Aussie Atlassian Tipped To Raise $350m On Wall St

Aussie Atlassian Tipped To Raise $350m On Wall St

However some Wall Street commentators have raised their eyebrows at the potential valuation at a time for decidedly gloomy market for technology floats

Others say Atlassian’s stunning record in the US market should see would-be investors scrambling to grab a share of the action.

Co-chief executives Mike Cannon-Brookes and Scott Farquhar will control a combined stake of about US$2.4 billion, leaving potential investors to snap up 20 million new shares at the estimated IPO price of between US$16.50 and $18.50.

Cannon-Brookes and Farquhar are already the wealthiest Australians under 40 and a successful IPO would catapult them into the top 20 of the BRW Rich List, according to an Australian Financial Review filing. (Only the AFR seems to find this deeply significant.)

Atlassian, founded in 2002, is on track to be trading under the ticker code TEAM on the Nasdaq index. CDN will be covering it in our page 4 listings.