NIQ, a consumer analytics firm backed by Advent International and KKR, successfully raised $1.05 billion in its U.S. initial public offering.
NIQ IPO Raises $1.05 Billion Amid Market Recovery
CHICAGO, Ill. – Consumer insights company NIQ secured $1.05 billion in its U.S. initial public offering Tuesday. The pricing of approximately 50 million shares at $21 each values the company at $6.35 billion. This offering signals NIQ’s debut on the New York Stock Exchange, occurring amidst a resurgence in the IPO market following a lengthy slowdown.
NIQ’s successful IPO marks a significant event for the data analytics firm. The company provides crucial consumer purchasing behavior data to help brands and retailers refine their products and strategies. NIQ boasts a substantial client base of around 23,000 customers, including major global brands like Coca-Cola, Nestlé, and Sony.
The Chicago-based company is helmed by Jim Peck, who previously served as CEO of TransUnion, a credit information company.
Financial Performance and Future Plans
For the three months ending March 31, NIQ reported revenue of $965.9 million, a slight increase from the prior year. The company also saw its net loss attributable to shareholders narrow to $73.7 million, down from $173.9 million in the same period last year.
Proceeds from the IPO are earmarked for debt repayment and general corporate activities. NIQ faces competition from firms such as Circana and YouGov.
Did you know? NIQ’s listing comes more than four years after its spin-off from Nielsen Holdings.
J.P. Morgan, BofA Securities, and UBS Investment Bank are among the underwriters for the IPO.
