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Investing.com -- Consumer insights company NIQ Global priced its initial public offering at $21 per share, raising $1.05 billion ahead of its New York Stock Exchange debut on Wednesday.
The company, backed by investment firms Advent International and KKR, sold 50 million shares in the offering, resulting in a $6.35 billion valuation.
NIQ Global provides insights into consumer shopping behavior to help brands and retailers improve their products and strategies. The company serves approximately 23,000 clients, including major corporations such as Coca-Cola (NYSE:KO), Nestlé, and Sony (NYSE:SONY).
Based in Chicago, Illinois, NIQ is led by Jim Peck, who previously served as CEO of credit information firm TransUnion (NYSE:TRU).
For the first quarter ending March 31, NIQ reported revenue of $965.9 million, slightly up from the previous year. The company’s net loss attributable to NIQ narrowed to $73.7 million from $173.9 million in the same period a year earlier.
NIQ plans to use the IPO proceeds to reduce debt and for general corporate purposes. The company competes with firms like Circana and YouGov in the consumer insights market.
J.P.Morgan, BofA Securities, and UBS Investment Bank are among the underwriters handling the offering.
NIQ’s market debut comes amid a recent wave of IPOs as the market shows signs of recovery following an extended slowdown.
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