KKR & Co. Inc.-backed home health care service provider BrightSpring Health Service Inc. is readying its stock market debut in a further sign of a thaw in the IPO market. The Louisville, Ky.-based company plans to offer 53.3 million shares at an estimated price range of $15 to $18 a share for trading under the symbol BTSG
BTSG,
on the Nasdaq, according to a filing on Wednesday.
It’s the latest sign of a pick-up in initial public offerings after one of the quietest periods in recent years after deal fizzled last year amid geopolitical uncertainty, headwinds from inflation and turmoil in the banking sector. Both BrightSpring and last week’s debut of home builder Smith Douglas Homes Corp. come from more well-established, stable businesses, as opposed to the technology unicorns that have caught Wall Street’s fancy in the past. However, more high-flying companies may be ready to dive in, as social media platform Reddit is reportedly eyeing an IPO in March, according to Reuters. The San Francisco company is valued at about $10 billion, said the report, which cited people familiar with the deal. Also read: Reddit, Shein and Stripe may lead a revived IPO market in 2024 Based on the midpoint of the estimate $15 to $18 price range, the IPO will raise about $880 million with 15 underwriters led by Goldman Sachs & Co. LLC, KKR, Jefferies, Morgan Stanley, UBS Investment Bank, BofA Securities, Guggenheim Securities and Leerink Partners. With 179.19 million shares outstanding for the compan …
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BTSG,
on the Nasdaq, according to a filing on Wednesday.
It’s the latest sign of a pick-up in initial public offerings after one of the quietest periods in recent years after deal fizzled last year amid geopolitical uncertainty, headwinds from inflation and turmoil in the banking sector. Both BrightSpring and last week’s debut of home builder Smith Douglas Homes Corp. come from more well-established, stable businesses, as opposed to the technology unicorns that have caught Wall Street’s fancy in the past. However, more high-flying companies may be ready to dive in, as social media platform Reddit is reportedly eyeing an IPO in March, according to Reuters. The San Francisco company is valued at about $10 billion, said the report, which cited people familiar with the deal. Also read: Reddit, Shein and Stripe may lead a revived IPO market in 2024 Based on the midpoint of the estimate $15 to $18 price range, the IPO will raise about $880 million with 15 underwriters led by Goldman Sachs & Co. LLC, KKR, Jefferies, Morgan Stanley, UBS Investment Bank, BofA Securities, Guggenheim Securities and Leerink Partners. With 179.19 million shares outstanding for the compan …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]