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  • Thursday, April 25, 2024

Software Maker Qualtrics Looks to Raise $1.28B in IPO

Qualtrics International, an experience management software vendor spinning out of SAP (NYSE: SAP), has increased the suggested price range for its initial public offering from between $20 and $24 to between $22 to $26 per share, with the goal of raising $1.28 billion, Bloomberg reported Tuesday.

The report said Qualtrics plans to trade under the “XM” ticker symbol on Nasdaq and offer 49.2 million shares of common stock.

JPMorgan Chase & Co. and Morgan Stanley will lead the software provider’s offering, the report added.

Germany-based SAP completed its $8 billion acquisition of Qualtrics in January 2019 and indicated its intent to take the latter public in July of last year.

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