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Qualtrics Raises $1.55 Billion By Pricing Upsized IPO At $30

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  • Qualtrics has priced 51.7 million shares at $30 per share in an upsized initial public offering (IPO), raking $1.55 billion.
  • The offering was upsized twice, from the initial range of $20 to $24, raised to $27 and $29. It is a spin-off from German enterprise software service provider SAP SE (NYSE: SAP).
  • Yesterday, SAP CEO Christian Klein told CNBC in an interview that its enterprise software unit spin-off Qualtrics International Inc (NASDAQ: XM) is “massively oversubscribed.”
  • The share sale will close on February 1, 2021, and the shares will trade on the Nasdaq under the ticker symbol “XM.”
  • Qualtrics has granted the underwriters a 30-day option to purchase up to 7.75 million additional shares.
  • SAP intends to use the proceeds towards debt repayment worth $1.76 billion.      
  • Morgan Stanley and J.P. Morgan are the lead book-running managers for the offering.
  • Price Action: SAP shares are down 0.37% at $131.70 on the last check Thursday.
 

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Posted-In: Enterprise SoftwareNews IPOs Tech Media

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