Marcus Ryu, CEO of Guidewire Software Inc, is very happy with the yesterday’s events. After announcing its initial public offering and opening at $13 a share, Guidewire Software’s (GWRE) stock rose 31.7 percent to close the day at $17.12 a share on the New York Stock Exchange. “It’s only the first day,” he told INN, “but it was very encouraging.”

While the plan was to sell 7.5 million shares, the company sold 8.85 million shares in light of the intensity of demand, Ryu said. “It exceeded our expectations.”

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access