Latest news with #IPOX
Reuters
24-07-2025
- Business
- Reuters
Accelerant valued at $6.4 billion in debut as insurance IPOs heat up
July 24 (Reuters) - Billionaire sports financier Todd Boehly-backed Accelerant (ARX.N), opens new tab was valued at $6.4 billion as its shares jumped 36% in their New York debut on Thursday, underscoring a strong investor appetite for insurance listings. The shares of the specialty insurance marketplace opened at $28.50 apiece, above the $21 offer price. In 2023, the company was valued at $2.4 billion. The strong debut adds to the growing momentum for insurance IPOs that has emerged as a key theme in the new listings market since Liberation Day, with a string of companies successfully pulling off first-time share sales. Accelerant and some of its shareholders sold roughly 34.5 million shares in an upsized IPO to raise $724 million. They had earlier planned on selling roughly 29 million shares between $18 and $20 apiece. "The tariff-induced volatility has triggered a classic flight to quality, forcing investors to prioritize predictable cash flows over speculative growth," said Lukas Muehlbauer, IPOX research associate. "Insurance companies are the primary beneficiaries of this shift in risk appetite, as their defensive business models are more suited to withstanding economic uncertainty." A number of insurance companies such as Aspen Insurance (AHL.N), opens new tab, American Integrity Insurance (AII.N), opens new tab, Ategrity Specialty Insurance (ASIC.N), opens new tab and Slide Insurance (SLDE.O), opens new tab have completed IPOs in New York since May, and all of them are trading above the offer price, while some IPOs were upsized. "It seems to be a combination of an industry that is more immune to the current market risks, and is innovating in the right ways at the right time," said Laura Katherine Mann, partner at law firm White & Case. "The rebound for insurance might continue for a time, but in a volatile market, it is the first movers that will benefit from the current investor appetite for these companies." Besides Boehly's Eldridge, Accelerant is backed by investment firms Altamont Capital Partners and Barings.
CNBC
22-07-2025
- Business
- CNBC
Avalara confidentially files for U.S. IPO, eyes return to public markets
Tax software company Avalara, which went private in 2022, disclosed on Monday it had confidentially filed for a U.S. initial public offering, indicating plans to go public again amid growing investor optimism for IPOs. The terms of the offering were not disclosed. U.S. IPO activity, sluggish at the start of the year, is gaining momentum following robust investor demand for new offerings. Avalara went public in June 2018 but was taken private in 2022, when it was acquired by private equity firm Vista Equity Partners in a deal that valued the company at $8.4 billion, including debt. The filing underscores the broadening of the U.S. IPO market — from originally venture capital-backed deals focused on growth to private equity-backed offerings where the IPO acts as a catalyst for capital structure changes, said IPOX CEO Josef Schuster. In April, tax firm Andersen had also filed confidentially for a U.S. listing. Founded in 2004, Avalara runs a cloud-based software platform that helps companies with tax compliance. The Seattle-based company counts Adidas, Crocs CROX.O and Reebok among its customers. Companies often file for IPOs confidentially to keep details about their financial and strategic plans private, while engaging with regulators and potential investors.
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Business Standard
26-06-2025
- Business
- Business Standard
Jefferson Capital valued at $1.2 billion after strong Nasdaq debut
Private equity-backed Jefferson Capital has secured a valuation of $1.2 billion after its shares rose 26.7% in their Nasdaq debut on Thursday, signaling a steady recovery in investor appetite for listings with strong fundamentals. The consumer debt collector's shares opened at $19 apiece, above its offer price of $15 per share. The Minneapolis, Minnesota-based company and some existing investors raised $150 million by selling 10 million shares in the IPO. The US IPO market has recovered in recent weeks after President Donald Trump's shifting trade policies rattled investors and froze new listings earlier this year. The rebound is likely to be selective, led by high-quality and long-anticipated issuers, IPOX research associate Lukas Muehlbauer said. Jefferson's total revenue jumped 34.1 per cent to $433.3 million in 2024 compared with the previous year, continuing a steady trajectory since 2019. The debut mirrors strong first-day performances last week of cancer diagnostic firm Caris Life and Slide Insurance . Stablecoin issuer Circle Internet and digital bank Chime also made stellar debuts earlier this month. But companies such as eToro, Voyager, and Omada, hot on debut, are trading below opening price as of last close. "The initial pop is often fueled by the scarcity of an allocation, while the subsequent trading helps establish a more sustainable, long-term market price. Ultimately, this dynamic is less about fading interest and more about the market undertaking a healthy process of price discovery," said Muehlbauer. Founded in 2002, Jefferson purchases and manages unpaid consumer debts in the U.S., Canada, UK and Latin America. It helps banks, credit card issuers and other lenders recover debt. The company, which competes with PRA Group and Encore Capital Group in its core U.S. market, was acquired by U.S.-based private equity firm J.C. Flowers in 2018.
Yahoo
12-06-2025
- Business
- Yahoo
Chime set for long-awaited market debut after $864 million US IPO
By Manya Saini and Niket Nishant (Reuters) -Chime is set to debut on the Nasdaq later on Thursday after raising $864 million in its initial public offering, with investors waiting to see whether the digital bank will maintain the recent streak of explosive first-day gains for new listings. The hotly anticipated debut is being viewed as a bellwether for other IPO candidates in the fintech industry, where valuations have cooled from pandemic-era highs. "A strong debut could trigger a domino effect, prompting other high-growth firms to accelerate their IPO timelines and position themselves for a window that's starting to reopen," said Kat Liu, vice president at IPOX. "If well-received, Chime could help reopen the IPO window for other long-delayed unicorns." Chime and some of its investors sold 32 million shares priced at $27 each. It had earlier marketed a $24 to $26 price range. The IPO gave the San Francisco-based company a fully diluted valuation of $11.6 billion. It was last valued at $25 billion after a funding round in August 2021. Chime's major backers include Yuri Milner's DST Global and investment firms General Atlantic and ICONIQ. It has raised $2.65 billion from private investors since its inception, according to PitchBook data. Digital banks such as Chime have grown rapidly in recent years by offering low-cost, mobile-first financial services that appeal to younger users and underserved consumers. With features such as no-fee accounts, early access to direct deposits and user-friendly apps, they have positioned themselves as accessible alternatives to traditional banks. The fintech earns revenue primarily from interchange fees collected when users swipe their debit cards. Morgan Stanley, Goldman Sachs and J.P. Morgan were the lead underwriters for Chime's IPO. MARKET THAW DRAWS IPO HOPEFULS Soaring interest rates and recession fears since the 2021 IPO boom have hit valuations and investor demand for new issues, forcing many private companies to delay their IPO plans. But some high-growth firms are cautiously testing the waters again. Circle, the stablecoin issuer that went public last week, has seen its stock gain fourfold from its IPO price. Space tech firm Voyager's shares more than doubled on their debut on Wednesday. However, some analysts cautioned against excessive optimism, warning that uncertainty around trade negotiations by President Donald Trump's administration could weigh on the broader recovery. "While this is clearly a strong IPO window now, there is no guarantee it will continue," said Samuel Kerr, head of equity capital markets at Mergermarket. "Investors and issuers have made use of the tariff pause to do deals but there is still broad uncertainty." Crypto exchange Gemini, buy-now-pay-later firm Klarna, AI chipmaker Cerebras and medical supplies company Medline are among the most closely watched names in the current IPO pipeline. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
12-06-2025
- Business
- Reuters
Chime set for long-awaited market debut after $864 million US IPO
June 12 (Reuters) - Chime is set to debut on the Nasdaq later on Thursday after raising $864 million in its initial public offering, with investors waiting to see whether the digital bank will maintain the recent streak of explosive first-day gains for new listings. The hotly anticipated debut is being viewed as a bellwether for other IPO candidates in the fintech industry, where valuations have cooled from pandemic-era highs. "A strong debut could trigger a domino effect, prompting other high-growth firms to accelerate their IPO timelines and position themselves for a window that's starting to reopen," said Kat Liu, vice president at IPOX. "If well-received, Chime could help reopen the IPO window for other long-delayed unicorns." Chime and some of its investors sold 32 million shares priced at $27 each. It had earlier marketed a $24 to $26 price range. The IPO gave the San Francisco-based company a fully diluted valuation of $11.6 billion. It was last valued at $25 billion after a funding round in August 2021. Chime's major backers include Yuri Milner's DST Global and investment firms General Atlantic and ICONIQ. It has raised $2.65 billion from private investors since its inception, according to PitchBook data. Digital banks such as Chime have grown rapidly in recent years by offering low-cost, mobile-first financial services that appeal to younger users and underserved consumers. With features such as no-fee accounts, early access to direct deposits and user-friendly apps, they have positioned themselves as accessible alternatives to traditional banks. The fintech earns revenue primarily from interchange fees collected when users swipe their debit cards. Morgan Stanley, Goldman Sachs and J.P. Morgan were the lead underwriters for Chime's IPO. Soaring interest rates and recession fears since the 2021 IPO boom have hit valuations and investor demand for new issues, forcing many private companies to delay their IPO plans. But some high-growth firms are cautiously testing the waters again. Circle (CRCL.N), opens new tab, the stablecoin issuer that went public last week, has seen its stock gain fourfold from its IPO price. Space tech firm Voyager's (VOYG.N), opens new tab shares more than doubled on their debut on Wednesday. However, some analysts cautioned against excessive optimism, warning that uncertainty around trade negotiations by President Donald Trump's administration could weigh on the broader recovery. "While this is clearly a strong IPO window now, there is no guarantee it will continue," said Samuel Kerr, head of equity capital markets at Mergermarket. "Investors and issuers have made use of the tariff pause to do deals but there is still broad uncertainty." Crypto exchange Gemini, buy-now-pay-later firm Klarna, AI chipmaker Cerebras and medical supplies company Medline are among the most closely watched names in the current IPO pipeline.
