Apple Device Management Software Maker Jamf Raises IPO Hopes To $368M

Jamf Holding Corp. has increased the expected price range for its initial public offering, it said in a

with the United States Securities and Exchange Commission Monday.

The Minneapolis-based company makes software for enterprises to set up, manage, and secure their

devices, including iPhones, iPads, and Macs. Jamf said it now expects to price its IPO, slated to happen later this week, in the range of $21 to $23. The company is offering 13.5 million shares, and existing stakeholders are offering another 2.5 million shares, meaning it could raise anywhere between $336 million and $368 million at the current pricing. Jamf, at the time of announcing the launch of the IPO last week, said it was expecting to

between $17 and $19. Underwriters for the IPO, which include

,

, and subsidiaries of

, and

, will still have a greenshoe option to purchase 2.4 million additional shares within 30 days of the offering.

The new IPO range values Jamf between $2.44 billion and $2.68 billion. Majority stakeholder Vista Equity Partners will own 77% of the company's outstanding common stock at the end of the offering, and 74.9% if the underwriters exercise the overallotment option. Private funds Dragoneer Investment Group and Tiger Global Management have expressed interest in purchasing about $50 million worth of shares each, at the IPO price, Jamf said. In a previous filing with the SEC, the company said it had about 40,000 clients as of June, including

,

, and Apple itself.