Siemens-backed Bentley goes public on NASDAQ
September 25, 2020
The Siemens subsidiary Bentley Systems, which specializes in simulation software for infrastructure projects such as roads, airports and power plants, made a successful debut on NASDAQ. The shares shot up by up to 45 pct. to USD 30.99 on the first day of trading on Wednesday. 12.36m shares were allotted at USD 22 each, according to the software company. This price is above the range of USD 19 - 21 that was announced Tuesday. Bentley Systems was thus valued at more than USD 5.7bn. At the NASDAQ rate of USD 28, its valuation rose to USD 7.3bn. The shares come from the holdings of the existing shareholders, who thus generated up to USD 272m.
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