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Apptio announces closing of IPO

Apptio Inc. announced the closing of its IPO of class A common shares at $16 per share.

The offering of 6.9 million shares includes the full exerciseof the underwriters' option to purchase additional shares. The technologybusiness management software provider estimated net proceeds to be about $99.4million after deducting underwriting discounts and commissions and offeringexpenses.

The shares began trading on the Nasdaq Global Market underthe ticker symbol APTI on Sept. 23.