Cyber security firm FireEye prices IPO at $20 per share

Cyber security firm FireEye has priced its initial public offering of 15.2 million shares at $20 (£12.50) per share in a move that values the company at around $2.3 billion (£1.45 billion).

The shares are expected to begin trading on The Nasdaq Global Select Market today under the symbol "FEYE".

All shares in the IPO are being sold by the firm, which raised approximately $304 million (£190 million) from the offering.

The share price has been set higher than analysts expected and above the price range of $17 (£10.60) that was previously given.

Addition, FireEye has granted the underwriters a 30 day option to purchase up to an additional 2.3 million shares to cover over-allotments, if any.

FireEye was founded in 2004 by Ashar Aziz, who is currently CTO of the company and the original inventor of the malware protection technologies used by the security firm.

CEO Dave DeWalt joined the firm in 2012 after leaving McAfee Security the year before. As CEO, he oversaw the sale of McAfee to Intel for $7.7 billion (£4.8 billion).

DeWalt has said he is focussing on growth over profits, with the intention to become a fully global company.

Morgan Stanley, Goldman, Sachs, J.P. Morgan and Barclays are the lead underwriters for the IPO.

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