2023-09-17 12:03:29
Arm’s IPO
The British chip designer’s shares were sold last week at the top end of the $47 to $51 range.
(Photo: AP)
New York After the brilliant debut of the chip manufacturer Arm on Wall Street, other stock market candidates now want to increase their issue price at the last minute. According to insiders, the marketing automation platform Klaviyo is in advanced discussions with the associated banks.
Klaviyo no longer wants to settle for the original price range of $25 to $27 per share, which would value the company at up to $8 billion, people familiar with the matter said Saturday. After all, investor demand is almost twenty times higher than supply. A decision is expected this weekend.
Klaviyo helps eCommerce brands store and analyze data. This allows you to send personalized marketing emails and messages to potential customers. Klaviyo claims to have over 100,000 companies in more than 80 countries among its customers.
The food delivery service Instacart had already made a point on Friday. He is also aiming to go public next week. The price range for the papers was increased by two dollars to now 28 to 30 dollars. There are 22 million securities for sale, which would mean revenue of $660 million at the top end of the range. Overall, Instacart would be valued at around $10 billion. In a financing round around two years ago, however, it was still 39 billion dollars.
The hype was triggered by the Arm IPO. The British chip designer’s shares were sold last week at the top end of the $47 to $51 range. The issue volume of the largest IPO so far this year was almost $4.9 billion, with a total valuation of $54.5 billion.
When they were first listed on Thursday, the shares closed at $63.59 with a price premium of almost 25 percent. The trend initially continued on Friday and the shares rose to $69.00. But then a wave of selling began and in the end the shares were almost 4.5 percent weaker at a daily low of $60.75.
More: Arm allocates shares at the upper end of the offering range
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