Instacart’s Higher IPO Target Aims at Trading Pop, Cash Infusion

The first test comes Monday with the pricing of online grocer Instacart’s initial public offering, which may raise as much as $660 million. Klaviyo, a marketing and data automation provider, may follow suit this week, targeting up to $557 million.

Even with Instacart and Klaviyo’s higher targets, Wall Street still sees the valuations as modest, with bankers coaxing companies to meet would-be investors at prices seen as attractive. Of the 10 companies that raised more than $300 million through IPOs on US exchanges since May, the median stock generated a 26% climb on the first day, data compiled by Bloomberg show. That’s serving as a signal that investors are getting the action they want, while companies can get much-needed deals done.

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Instacart’s Higher IPO Target Aims at Trading Pop, Cash InfusionInstacart and Klaviyo Inc., reacting to the strong reception of this year’s biggest IPO, have increased the amount of money they want to raise, with the goal of bolstering their cash positions while driving an opening day pop.
Source: BNNBloomberg - 🏆 83. / 50 Read more »