UiPath, an automation software maker, and existing shareholders are seeking to raise as much as $1.3 billion from a US initial public offering after boosting the targeted price range.
UiPath and its backers are now offering 23.9 million shares at $52 to $54 apiece, it said in a filing on Monday, confirming an earlier Bloomberg report. The company was previously marketing a sale of 21.3 million shares at $43 to $50 apiece, seeking to raise as much as $1.1bn.
A higher range usually indicates that there’s strong demand for a company’s shares on its investor roadshow.
Technology listings are coming off a mixed week where Coinbase Global stock whipsawed on its debut and mobile apps company AppLovin fell almost 19 per cent on its first day of trading.
UiPath specialises in robotic process automation technology, software that helps companies save time and money by automating repetitive, manual tasks such as entering data into spreadsheets.
In February, the company raised funds at a $35bn valuation. It is backed by investors including Accel and Google parent Alphabet’s CapitalG investment fund.
Morgan Stanley and JPMorgan Chase are leading the offering. UiPath plans to list on the New York Stock Exchange under the symbol PATH.
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
