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

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. Morgan Stanley and J.P. Morgan are the lead underwriters for the IPO.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)