Exclusive: Healthcare software firm Waystar raises $968 mln million in IPO, sources say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 06 2024
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Source: reuters
- Waystar IPO: Waystar, a software provider for healthcare financial management, raised $968 million in its IPO by pricing 45 million shares at $20 to $23 per share.
- Valuation: The IPO gives Waystar a fully diluted valuation of $3.69 billion.
- Market Conditions: Waystar's successful IPO indicates the market for new listings is open despite Novelis pulling its $945 million stock market debut due to adverse market conditions.
- Novelis Situation: Novelis, an aluminium recycler, canceled its IPO, with sources suggesting that its owner, Hindalco Industries, could have proceeded but chose not to disclose the real reason.
- Stakeholders' Response: Waystar and major shareholders like EQT and Canada Pension Plan Investment Board declined to comment on the IPO.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
