UiPath boosts worth vary to extend IPO goal to $1.3B | Financial institution Automation Information

UiPath Inc., an automation software program maker, and current shareholders are in search of to lift as a lot as $1.3 billion from a U.S. preliminary public providing after boosting the focused worth vary.

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UiPath and its backers at the moment are providing 23.9 million shares at $52 to $54 apiece, it stated in a submitting Monday, confirming an earlier Bloomberg Information report. The corporate was beforehand advertising a sale of 21.3 million shares at $43 to $50 apiece, in search of to lift as a lot as $1.1 billion.

A better vary normally signifies that there’s robust demand for an organization’s shares on its investor roadshow. Know-how listings are coming off a combined week the place Coinbase World Inc. inventory whipsawed on its debut and cell apps firm AppLovin Corp. fell virtually 19% on its first day of buying and selling.

UiPath makes a speciality of robotic course of automation know-how, software program that helps corporations save money and time by automating repetitive, guide duties corresponding to coming into information into spreadsheets.

In February, the corporate raised funds at a $35 billion valuation. It’s backed by buyers together with Accel and Alphabet Inc.’s CapitalG funding fund.

Morgan Stanley and JPMorgan Chase & Co. are main the providing. UiPath plans to record on the New York Inventory Alternate underneath the image PATH.

— Katie Roof, Liana Baker and Crystal Tse (Bloomberg Mercury)

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