Asana Opens 29% Above Reference Price In NYSE IPO

Investing.com --   Asana opened at $27 in its direct listing on the New York Stock Exchange, which had set a reference price of $21. 

The workplace management software firm's founders include Facebook (NASDAQ:FB) co-founder Dustin Moskovitz. Asana has registered 30 million shares. 

On a fully diluted basis and based on the $21 reference price, Asana would have a valuation of about $4 billion.

The company isn’t issuing new shares or raising capital as it would in a traditional initial public offering. The reference price is based on earlier secondary trading and acts as a guide to investors, Bloomberg said.

Peer Palantir Technologies is also expected to begin trading shortly.

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