© Reuters.
Digital marketing software firm, Klaviyo Inc., is poised for a robust debut on the New York Stock Exchange (NYSE) today. Early signs from the NYSE suggest that the company’s shares, trading under the ticker KVYO, could open at a price up to 20% higher than its initial public offering (IPO) cost.
Late Tuesday, Klaviyo announced that it had priced its IPO at $30 per share, exceeding the initially anticipated range. The offering includes 19.2 million shares, which are expected to begin trading around midday today.
Projections from the NYSE indicate that Klaviyo’s stock price is likely to open between $34 and $36, representing an increase of 13.3% to 20% over the IPO price. If the shares reach the upper end of this range, it would mark a significant valuation for the company.
As a profitable entity in the software-as-a-service sector, Klaviyo’s promising start may serve as a positive indication for other firms in the industry considering going public.
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