Reuters: Global Markets: Compuware-controlled Covisint's shares jump 36 percent in debut

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Compuware-controlled Covisint's shares jump 36 percent in debut Sep 26th 2013, 15:14 Thu Sep 26, 2013 11:14am EDT (Reuters) - Shares of Covisint Corp (COVS.O) jumped 36 percent to $13.57 in their market debut, valuing the cloud-based supply chain software provider, at about $494 million. The company, controlled by business software maker Compuware Corp (CPWR.O), raised about $64 million after selling 6.4 million shares at $10 each â€" the mid-point of its expected price range. Covisint, which counts General Motors Co (GM.N), AT&T Inc (T.N) and Daimler AG (DAIGn.DE) among its major customers, cut its IPO size to up to $81 million from $100 million last week.

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