Qualtrics (NASDAQ:XM) is preparing for the launch of its initial public offering (IPO) on Thursday and has revealed the price of its shares.
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Here’s everything potential XM investors need to know about the IPO.
- Qualtrics says that it plans to launch its IPO today but shares aren’t currently trading yet.
- When shares of the stock do start trading, they’ll go for $30 each.
- That’s a jump from its previous share price range, which was between $27 and $29.
- The company is listing its shares on the Nasdaq Exchange under the XM stock ticker.
- It plans to offer up 51,695,568 shares of its stock in the IPO.
- There’s also a 30-day option for underwriters to purchase an additional 7,754,335 shares of the stock at its IPO price.
- Morgan Stanley and J.P. Morgan are the lead book-runners of the Qualtrics IPO.
- Qualtrics is a customer experience company with a focus on helping businesses develop their brands.
- It was acquired by SAP (NYSE:SAP) in 2018 for $8 billion.
- The company initially announced plans for a Qualtrics IPO in July 2020.
- Even after the IPO, SAP says that it will continue to be the majority shareholder of Qualtrics.
- It also notes that this means any success for the company will be a success for it.
- SAP CEO Christian Klein says that the IPO is “massively oversubscribed.”
- SAP is looking to raise at least $1.46 billion from the IPO.
- The IPO is expected to end on Monday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
