MW Hot IPO market continues, as cybersecurity-software company Netskope raises $908 million
By Mike Murphy
Netskope's shares are set to start trading Thursday.
The IPO market is at its hottest point in years, and cybersecurity-software company Netskope Inc. became the latest to take the leap late Wednesday, pricing its initial public offering at $19 a share, raising about $908.2 million and valuing the company around $7.3 billion.
On Tuesday, Netskope had raised its estimated price range to $17 to $19 a share, from $15 to $17. It offered 47.8 million shares, and the stock is expected to start trading Thursday on the Nasdaq under the ticker symbol "NTSK." Morgan Stanley and J.P. Morgan are the deal's lead book-runners.
Santa Clara, Calif.-based Netskope specializes in cybersecurity for the cloud and artificial intelligence.
After a few slow years marred by the pandemic, high inflation and high interest rates, the IPO market has rebounded strongly of late. Online ticket reseller StubHub Inc. $(STUB)$ was the most recent to go public, though its stock fell 6% in its trading debut Wednesday, after a 10% initial jump.
Last week was the busiest for IPOs since 2021, with Klarna Group $(KLAR)$, Figure Tech $(FIGR)$, Legence $(LGN)$, Gemini Space Station $(GEMI)$, Black Rock Coffee $(BRCB)$ and Via Transportation $(VIA)$ going public. And that followed IPOs earlier this year from companies such as eToro $(ETOR)$, Circle Internet (CRCL) and Figma Inc. $(FIG)$.
The Renaissance IPO ETF IPO - a widely used benchmark for the IPO market - is up about 23% this year, outpacing the Nasdaq's COMP 15% gain.
-Mike Murphy
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September 17, 2025 22:52 ET (02:52 GMT)
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