(Reuters) – Jive Software Inc. priced its initial public offering at $12 per share, above its expected price range of between $8 and $10 per share, according to an underwriter. Shares of the Palo-Alto, Calif.-based company, backed by venture capital firm Sequoia Capital, are expected to start trading on Tuesday on Nasdaq under the symbol JIVE.
Jive — which makes software that integrates online communities, microblogging, social networking, discussion forums, blogs, wikis, and instant messaging under one interface — filed in August to raise up to $100 million in its IPO.
Jive’s pricing kicks of what is expected to be the busiest week in the U.S. IPO calendar since 2007, and is the first in a long list of companies expected to go public this week, including social games maker Zynga and luxury lifestyle company Michael Kors Holdings’.
Morgan Stanley and Goldman Sachs are the lead underwriters to the offering.
(Reporting by Aman Shah in Bangalore; editing By Carol Bishopric)