Cloud company Veeva shares nearly double in market debut

(Reuters) - Shares of Veeva Systems Inc, a provider of cloud-based software to drugmakers, nearly doubled in their market debut, valuing the company at nearly $5 billion. The company raised about $194.4 million on Tuesday after pricing its IPO at $20 per share, well above its expected price range. Of the 13 million shares sold in the IPO, Veeva offered 9.7 million shares, while the rest came from stockholders. Shares of the company traded as high as $39.64 on the New York Stock Exchange. (Reporting by Varun Aggarwal in Bangalore)



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