SilkRoad hires underwriters

Investor's Business Daily

The human resources software provider and Workday (WDAY) rival hired JPMorgan (JPM) and Piper Jaffray (PJC) as its lead underwriters, according to a Reuters article. The hiring of the 2 heavyweight banks suggests the offering will be of substantial size. The last IPO that JPMorgan was involved in was the $2.2 bil spinoff of Pfizer's (PFE) Zoetis (ZTS). But SilkRoad has yet to file a prospectus, so its IPO will still be a few months out. Workday shares rose 1.3% to 55.99.

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