UiPath upsizes U.S. IPO, aims for $28 billion valuation

(Reuters) – Startup UiPath said on Monday it is targeting a valuation of nearly $28 billion in its upsized initial public offering (IPO) in the United States, up from the $26 billion it was eyeing earlier.

The software maker said it would now aim to raise around $1.3 billion, selling 23.9 million shares priced between $52 and $54 each. It had earlier aimed to raise about $1.06 billion.

The New York-based company has seen demand for its robotic process automation services soar, as more companies shifted to remote working during the COVID-19 pandemic.

It will list its shares on the New York Stock Exchange under the symbol “PATH”. Morgan Stanley and J.P. Morgan are the lead underwriters for the IPO.

Source: Read Full Article