SAP-owned Qualtrics recordsdata for U.S. IPO

(Reuters) - Survey-device seller Qualtrics World Inc, owned by industry device neighborhood SAP, filed for a U.S. initial public providing of as much as $100 million on Monday, with tech shares largely outperforming the broader market this 365 days.

Qualtrics, which SAP sold for $8 billion two years ago, will beget two classes of overall stock upon completion of the providing, with SAP The US Inc feature to beget all 423.2 million Class B shares and stay the controlling shareholder, per a regulatory submitting bit.ly/3hovgWM.

The firm furthermore mentioned it had utilized to checklist its Class A overall stock on the Nasdaq World Grab out Market under the symbol “XM” and expects the IPO designate to be between $20 and $24 apiece.

Full revenue of Qualtrics, which gathers true-time feedback from prospects to abet analyse how a firm’s services and products or merchandise are performing, rose about 32% to $550 million in the 9 months ended Sept. 30.

Earn loss furthermore narrowed to $258 million in some unspecified time in the future of the length from $860.4 million a 365 days earlier, as fresh prospects sold upgrades and as Qualtrics obtained fresh prospects.

Morgan Stanley and J.P. Morgan are the lead underwriters for the providing.

Reporting by Praveen Paramasivam in Bengaluru; Bettering by Krishna Chandra Eluri

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