Qualtrics, and Ortho ready to become public companies

By: Miguel A. Rodriguez

16:48, 29 January 2021

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.

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

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.