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Short Take: Serena prices IPO at 13

Serena Software today priced its initial public offering at $13 a share, higher than the anticipated $9-11 range. The offering, led by Hambrecht & Quist, consists of 6 million shares, 4 million being sold by the company and 2 million by current shareholders. Serena provides services and software to help companies manage updates and installation of new software on their networks.

Serena Software today priced its initial public offering at $13 a share, higher than the anticipated $9-11 range. The offering, led by Hambrecht & Quist, consists of 6 million shares, 4 million being sold by the company and 2 million by current shareholders. Serena provides services and software to help companies manage updates and installation of new software on their networks.