© Reuters.
(Reuters) – KKR-backed know-how agency BMC Software program has confidentially filed for an preliminary public providing in the US, an individual acquainted with the matter advised Reuters, providing an early signal of a thawing market after a digital shutdown for many of final yr.
Spiraling world markets amid a widespread sell-off, notably within the know-how sector, and a geopolitical turmoil pushed many startups to shelve their inventory market flotations final yr until investor urge for food improved.
As BMC units out to check the IPO waters, an inventory may see the corporate valued at between $14 billion and $15 billion, relying on the size of market restoration, the supply added.
BMC declined to touch upon the matter.
In 2018, non-public fairness big KKR & Co (NYSE:) had acquired BMC for $8.5 billion, together with debt.
The U.S. IPO market has just lately begun to point out some indicators of restoration as investor fears round a looming recession and additional financial coverage tightening from the Federal Reserve ease.
A yr after Russia’s invasion of Ukraine and an inflation rally fueled a bout of market volatility that prevented most preliminary public choices in 2022, final week noticed a flurry of listings. It’s 15 months since there was a busier week, based on Dealogic information.
BMC, which offers software program that helps corporations set up their tech assist capabilities, companions with main world corporations together with Dell Applied sciences (NYSE:) Inc, Accenture (NYSE:) and Wipro (NYSE:) Restricted, its web site confirmed.
The information of BMC submitting for an IPO confidentially was first reported by Bloomberg Information.
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