Guidewire Software Files for $100M I.P.O.

Guidewire Software Inc., which sells software to the insurance industry, has filed to raise up to $100 million in an initial public offering, Reuters reported Friday. J.P. Morgan Securities, Deutsche Bank Securities, Citigroup Global Markets, Stifel, Nicolaus & Company and Pacific Crest Securities are listed as underwriters for the offering, according to regulatory filings.

(Reuters) – Guidewire Software Inc., software provider to property and casualty insurance companies, filed with regulators to raise up to $100 million in an initial public offering of its common stock.

In a filing with the U.S. Securities and Exchange Commission on Friday, the company said J.P. Morgan Securities, Deutsche Bank Securities, Citigroup Global Markets, Stifel, Nicolaus & Company and Pacific Crest Securities would be underwriting the offering.

It intends to use the proceeds from the offering for corporate purposes, including working capital.

San Mateo, California-based Guidewire Software wants to get listed under the symbol “GWRE.”

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Eileen Anupa Soreng in Bangalore; Editing by Joyjeet Das)