news Australian enterprise software provider Atlassian has publicly filed with the US Securities and Exchange Commission (SEC) to list common stock on the NASDAQ Global Market under the ticker symbol ‘TEAM’.
The number of shares to be offered and the price range for the proposed offering have not been determined, the firm says, adding: “A registration statement relating to these securities has been filed with the SEC, but has not yet become effective.”
Goldman, Sachs & Co and Morgan Stanley & Co will act as lead joint book-running managers for the proposed IPO. Allen & Company, UBS Securities and Jefferies will act as additional book-running managers, and Canaccord Genuity, JMP Securities, Raymond James & Associates. and William Blair & Co will act as co-managers.
Atlassian, which was founded in Sydney, was valued at US$3.3 billion in 2014, according to the WSJ.
Revenue for the fiscal year ending 30 June 2105 was US$319.5 million, a climb of nearly 50% from its 2014 earnings. Net income, though, fell to $6.8 million, down from $19 million in 2014.
Atlassian raised US$60 million in capital in 2010, with Accel Partners being the sole investor. It currently holds 12.5% of Atlassian shares, the filing states.
Atlassian’s flagship product is JIRA – a workflow management platform for teams. It also produces developer tools and a service desk platform that rivals similar products from companies such as Zendesk.
The group’s founders Michael Cannon-Brookes and Scott Farquhar currently each own 37.2% of the company’s shares, according to the filing. The pair, who are both only 35 years old, are said to be the richest Australians below 40 and worth an estimated $2.3 billion combined.
In a restructuring in 2014, the parent company became Atlassian Corporation PLC with a registered address in London, UK. The group also has offices in Amsterdam, Austin, Manila, San Francisco, Sydney and Yokohama.
Atlassian had over 1,148 employees, offices in 12 cities, 40,000-plus customers and millions of users as of 2014, according to online sources.
Image credit: Atlassian