Equity benchmarks, oil prices rise

Equity benchmarks, oil prices rise

NEW YORK: Global equity benchmarks and oil prices rose on Friday while safe havens such as the dollar and US Treasuries dipped as hopes for a global economic recovery overshadowed the continued blockage of one of the world's most vital shipping lanes. NEW YORK: Robotic process automation startup UiPath on Friday disclosed its filing for an initial public offering (IPO) in New York, after it raised fresh capital from investors at a valuation of $35 billion. UiPath said it is aiming to raise $1 billion in the IPO. The company, however, did not reveal the number of shares it plans to offer or the price range, indicating that the figure is a placeholder amount. In a regulatory filing, the New York-based company revealed its total revenue jumped 81 percent in the year ended Jan. 31, 2021 to $607. 6 million, while net losses narrowed significantly to $92. 4 million from $519. 9 million a year earlier. UiPath, which joins hundreds of other companies that are seeking to tap into the red-hot US IPO market, had considered going public through a direct listing, but ultimately opted for a traditional stock market flotation, sources said. The company, founded in 2005 in Romania