This week is expected to be among the hottest weeks of this calendar year for Initial Public Offerings (IPOs). Indeed, with the IPO market so hot and valuations near all-time highs, it’s no surprise that tech companies are looking to raise capital through the stock markets. Freshworks’ upcoming IPO is just the latest in a myriad of deals we’ve seen recently.
However, investors certainly have reason to be excited about this offer. This American fintech and software player has targeted the rapidly growing business and customer engagement segment. A competitor with a giant Selling power (NYSE:CRM), Freshworks has recently seen a growing interest in its software solutions. The growing demand for various customer relationship solutions in the wake of the pandemic has done so.
As a result, the timing for this Freshworks IPO may be perfect. The company seeks to raise substantial funds to finance its organic growth and seize the opportunities that arise. Therefore, it is likely that this IPO of FRSH shares will get a lot of attention this week.
Let’s see what investors might want to know about this transaction.
What should investors know about the Freshworks IPO?
According to recent reports, Freshworks recently increased its IPO price range. Previously, the company had targeted a range between $ 28 and $ 32 per share. However, that range has been increased to $ 32 at the lower end of the range, with an upper limit of around $ 34 per share.
At that higher level, the company expects to raise nearly $ 970 million at the high end of its range. This assumes that the entire offering of 284.3 million shares of the company is proceeding as planned.
Also, at the high end of that range, Freshworks is expected to have a valuation of almost $ 10 billion. It would also make this IPO one of the biggest of this year.
As mentioned, this Freshworks IPO is scheduled for this week. Freshworks is expected to start trading on the Nasdaq trade under the ticker “FRSH” tomorrow. Investors looking for a high volatility event may want to keep this stock on their radar. Indeed, this IPO promises to be intriguing to watch.
As of the publication date, Chris MacDonald does not have (directly or indirectly) any position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.