KinderCare targets valuation of up to $3.1 billion in U.S. IPO
- IPO Value: KinderCare Learning Companies, backed by Partners Group, is targeting a valuation of up to $3.09 billion in a U.S. initial public offering (IPO).
- Target Amount: The company plans to raise approximately $648 million through an offering of 24 million shares at a price range of $23 to $27 apiece.
- Partners Group Support: Swiss private equity firm Partners Group will retain a 71.1% controlling interest after the IPO.
- Reason for IPO: Proceeds from the IPO will be used primarily to reduce the company's debt.
- IPO support: The IPO is being underwritten by more than 10 Wall Street banks, including Goldman Sachs, Morgan Stanley, Barclays and J.P. Morgan.
- Stock symbol: KinderCare will trade on the New York Stock Exchange under the symbol KLC.
- IPO delay: The company had planned to go public as early as late 2021, but regulatory delays have delayed the process.
What do you investors think of this IPO?
