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April 23 (Reuters) - Software developer Apigee Corp said its initial public offering has been priced at $17 per share, the midpoint of an expected range of $16-$18.

The price means the company will raise about $87 million from the IPO of 5.1 million shares, and values the whole firm at about $494.5 million.

Apigee develops products such as Apigee Edge and Apigee Insight, which provide tools to help companies manage their Internet applications and data. (http://bit.ly/1OLLMt4)

The company's shares are expected to start trading on Friday on the Nasdaq under the symbol "APIC".

Morgan Stanley, JPMorgan and Credit Suisse are among the underwriters for the offering.

(Reporting By Sudarshan Varadhan in Bengaluru; Editing by Alan Crosby)