Coding platform GitLab lifts IPO pricing range, eyes nearly $10 bln valuation – Reuters

Coding platform GitLab lifts IPO pricing range, eyes nearly $10 bln valuation – Reuters

Oct 12 (Reuters) - Coding platform GitLab Inc is now targeting a valuation of $10 billion in its U.S. listing after raising the price range for its initial public offering, as demand for high-growth companies stays robust despite recent stock market gyrations.

The company said on Tuesday it would look to sell its shares between $66 and $69 each, compared with an earlier range of $55 and $60 per share. The IPO will raise $717.6 million at the top end of the new range.

GitLab's move is the latest sign that the IPO market in the United States has not lost steam even as global equities suffer from wild swings due to concerns over inflation and debt-laden Chinese property developer Evergrande. read more