SaaS enterprise solutions provider Atlassian Pty. Ltd., Australia’s biggest tech startup, lists Thursday morning local time on the NASDAQ with the company releasing details of the initial public offering price Wednesday evening.

Atlassian’s initial public offering (IPO) ended up being priced at $21 per share, above a proposed $19 to $20 per share offering range, which itself had been increased from an initial range of $16.50 to $18.50 per share.

According to reports at $21 per share Atlassian has raised $462 million, up from an earlier estimate pre-IPO of $250 million, on a valuation of nearly $4.38 billion.

Founded in 2002 by Scott Farquhar and Mike Cannon-Brooks, Atlassian offers a range of software as a solution (SaaS) products focused on team collaboration including JIRA, Confluence and HipChat.

Although based in Sydney (Australia) the company also has a strong presence in Silicon Valley not only in headcount but also among startups who use their products.

Most recently Atlassian has been on an acquisition spree, having acquired messaging provider Hall in May and the company behind video and chat conferencing service Jitsi in April, and has not rested on its laurels in the lead up to it going public rejigging its enterprise offering by splitting up one of its more popular software as a service (SaaS) apps, project management tool JIRA.

Unicorn test

The Atlassian float will be the last IPO of the year and follows in the footsteps of other unicorns in 2015 including enterprise storage maker Pure Storage, Inc., who floated in November, Box, Inc. in January and Square, Inc.

Atlassian comes to the NASDAQ as a somewhat different type of unicorn however than those who have floated before it, not just because it is an Australian company but as it is unique among software firms for funding its growth by being profitable.

As of its last round of $140 million in non-traditional funding in April Atlassian was believed to be valued at $3.3 billion, meaning the float valuation of $4.38 billion doesn’t appear to be overly high particularly given that the company has never raised traditional venture capital rounds coming into IPO.

Given that most of the tech IPO’s this year have seen massive boosts in share prices on their opening day, such as stock in the never yet to make a profit Etsy, Inc. surging 87 percent, we’re predicting good things for Atlassian.

Trading of Atlassian shares, along with NASDAQ as a whole, commences at 9:30 am U.S. Eastern Standard Time.

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