by Niket Nishant
(Reuters) – Enterprise software maker Informatica is seeking a valuation of up to $9 billion in its return to the stock market nearly six years after it went public, the company said on Monday.
The company will sell 29 million shares at prices between $29 and $32 per share. At the upper end of that range, the IPO will raise $928 million.
Informatica’s listing plan comes at a time when stock sales of technology companies, including Freshworks and Toast, continue to attract strong investor demand.
The US IPO market, however, has had some hitches recently, as iFIT Health & Fitness and Allvue Systems canceled listings earlier this month, citing adverse market conditions.
This year, 777 IPOs in the US, including SPACs, raised a total of $249.22 billion, according to data from Dealogic.
Informatica, headquartered in Redwood City, Calif., produces software for data management and task automation, and its clients are the US Air Force, biotechnology company Amgen, and beverage maker Vita Coco.
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