Qualtrics, and Ortho ready to become public companies

Qualtrics, and Ortho ready to become public companies

Two IPOs are hitting the market today: Qualtrics, and Ortho Clinical Diagnostics

Full day ahead for the markets, as two companies are ready to become public. IPOs have once again taken center stage, and increased investor appetite has seen the Renaissance IPO ETF skyrocket 106.76% between Jan 2020 and Jan 2021.

Qualtrics

The Utah-based software company is prepared to go public, by offering 50.4 million shares which prices range from $27 to $29 apiece. If everything goes smoothly, Qualtrics will reach a market valuation of nearly $15 billion, significantly higher than its first IPO in November 2018 – when it had a market cap of $4.3 billion.

The IPO proceeds will be used to pay the $1.76 billion debt owed to SAP America – the company which in 2018 bought it for $8 billion.

Qualtrics will be available for trading on the Nasdaq under the ticker XM, and as underwriters will be Morgan Stanley and JP Morgan.

Ortho Clinical Diagnostics

The global leader of in vitro diagnostics and a pioneer in innovative laboratory testing and blood-typing solutions will go public today under the symbol OCDX on the Nasdaq Global Select Market.

Ortho will make available for purchase 76 million shares priced at $17 each, with the gross proceeds expected to reach $1,292 million. The net proceeds from the IPO will be used to repay various borrowings made under its dollar term loan facility, and for general corporate purposes, along with working capital.

As underwriters, the clinic named JP Morgan, BofA Securities, and Goldman Sachs, among others.

Stay updated with CAPEX.com!

Sources: bloomberg.com, prnewswire.com, investors.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.