FireEye prices 15.18M-share IPO at $20, will begin trading today

|By:, SA News Editor

FireEye's (FEYE) IPO price is well above an initial price range of $12-$14, and also a subsequent range of $15-$17. In addition, the offering size is 8% larger than an initial 14M, and yielded gross proceeds of $304M.

FireEye has been assigned an IPO valuation of $2.35B, or a full 28x 2012 sales. Investors are apparently willing to accept lofty multiples to get their hands on a cybersecurity play posting rapid growth (1H revenue rose 107% Y/Y to $61.6M).

S-1, IPO preview