Advent-backed NIQ raises $1.05 billion in US IPO
About 50 million shares were priced at $21 each in the IPO, valuing NIQ at $6.35 billion.
The move sets the stage for the company's debut on the New York Stock Exchange on Wednesday, amid a wave of recent IPOs in a market that is showing signs of revival after a prolonged slowdown.
NIQ, which provides insights into consumer shopping behavior to help brands and retailers refine their products and strategies, has about 23,000 clients, including Coca-Cola (KO.N), opens new tab, Nestlé (NESN.S), opens new tab and Sony (6758.T), opens new tab.
The Chicago, Illinois-based company is led by Jim Peck, the former CEO of credit information firm TransUnion (TRU.N), opens new tab.
For the three months ended March 31, NIQ reported revenue of $965.9 million, a slight increase from the prior year. Its net loss attributable to the company narrowed to $73.7 million, compared to $173.9 million a year earlier.
Proceeds from the IPO will be used to repay some debt and for general corporate purposes, NIQ said. The company's competitors include Circana and YouGov.
J.P.Morgan, BofA Securities and UBS Investment Bank are among the underwriters for the IPO.
The listing comes more than four years after NIQ was spun off from Nielsen Holdings.
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