Software firm Informatica eyes $9 bln valuation in stock market return

By Kitco News / October 18, 2021 / www.kitco.com / Article Link

Oct 18 (Reuters) - Enterprise software developer Informatica Inc is seeking a valuation of up to $9 billion in its return to the stock market nearly six years after it was taken private, the company said on Monday.

The company will sell 29 million shares priced between $29 and $32 per share, it said in a filing. At the top end of that range, the IPO will rake in $928 million in proceeds.

Informatica's listing plan comes at a time when share sales of companies in the tech and software sector, including Freshworks Inc (FRSH.O) and Toast Inc (TOST.N), have continued to attract heavy demand from investors.

The U.S. IPO market, however, has had recent some hiccups as NordicTrack-owner iFIT Health & Fitness Inc and Allvue Systems Holdings pulled the plug on their listings earlier this month, citing adverse market conditions.

So far this year, 777 U.S. IPOs, including blank-check companies have raised a total of $249.22 billion, according to data from Dealogic.

Redwood City, California-based Informatica, helps its nearly 5,700 active customers including the U.S. Air Force, biotech firm Amgen Inc (AMGN.O) and beverage maker Vita Coco manage data and automate tasks.

It was taken private in 2015 in a deal valued at $5.3 billion, by a consortium that included private equity firm Permira Advisers Ltd and Canada Pension Plan Investment Board.

Goldman Sachs & Co and J.P. Morgan are the lead underwriters for the IPO. Shares will be listed on the New York Stock Exchange under the symbol "INFA".

Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta and Ramakrishnan M.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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