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Slideshow Palo Alto, Kayak set expected IPO price range Tweet Share this Email Print Related News Manchester United picks NYSE for IPO Tue, Jul 3 2012 Wall Street shakes off factory data; S&P, Nasdaq rise Mon, Jul 2 2012 Dell to buy Quest Software for $2.4 billion Mon, Jul 2 2012 Coty files to go public after Avon snub Fri, Jun 29 2012 Wall Street suffers worst loss in three weeks Thu, Jun 21 2012 Analysis & Opinion Hot new filing claims internal docs show rating agencies lied on MBS Facebook’s board needs more than Sheryl Sandberg Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Money » Inflows Outflows » Media » Mon Jul 9, 2012 12:05pm EDT (Reuters) - Software security company Palo Alto Networks and online travel service company Kayak Software Corp set the expected price ranges for their initial public offerings, prodded by a successful debut by IT software company ServiceNow Inc ServiceNow's successful IPO could pave the way for other offerings in an otherwise sluggish global IPO market. The company's shares soared 29 percent in their New York Stock Exchange debut last month, reawakening a market that had caught a chill from the European debt crisis and the aftermath of Facebook Inc's botched trading debut. Global IPO proceeds slid 46 percent to $59.6 billion in the second quarter, according to Thomson Reuters data. Palo Alto Networks on Monday said it expects to sell 6.2 million shares between $34 and $37 each. At the high end of the expected price range, Palo Alto is expected to be valued at $2.4 billion. For the year ended 2011, the company posted a net loss of $12.5 million on a revenue of $118.6 million. Demand for Palo Alto, which plays in the fast growing enterprise software space, is expected to be strong. "ServiceNow shows that the appetite for fast growing tech companies in their growth cycle will be massive," said Jim Krapfel, an analyst with Morningstar. "I expect there to be good demand for Palo Alto." The company expects to list its shares on the New York Stock Exchange under the symbol "PANW". Morgan Stanley, Goldman Sachs and Citigroup are the lead underwriters on the issue. Kayak expects to sell 3.5 million shares between $22 and $25 each. At the high end of its expected range, Kayak is expected to be valued at $964 million. The company was supposed to launch its IPO earlier this summer but postponed its plans due to Facebook's lackluster performance, according to a source close to the situation. Kayak faces mounting competition in the online travel sector from companies like Expedia Inc and Travelocity. "They don't have too many value added services and most people would rather go directly to the airlines' websites for the same deal which is cheaper," said Scott Sweet, managing partner at IPO Boutique, an IPO research firm. Kayak is backed by private equity players like General Catalyst Partners, Sequoia Capital, Accel Funds and Oak Investment Partners. The company expects to lists its shares on the Nasdaq under the symbol "KYAK". Its offering is being underwritten by Morgan Stanley and Deutsche Bank Securities among others. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting By Tanya Agrawal in Bangalore and Olivia Oran in New York; Editing by Tim Dobbyn) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Money Inflows Outflows Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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