Waystar Shares Dip After 2024’s Biggest IPO by a US Company
- Firm’s IPO is fourth-biggest of the year on a US exchange
- Waystar’s backers include EQT, CPPIB and Bain Capital
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Health-care payments software maker Waystar Holding Corp. fell 3.7% in its trading debut after raising $968 million in the year’s largest initial public offering by a US-based company.
Shares of Waystar, whose backers include EQT AB and Canada Pension Plan Investment Board, closed Friday at $20.70, giving the company a market value of about $3.45 billion. The company sold 45 million shares for $21.50, the midpoint of the marketed range. Including debt, the company has an enterprise value of about $5.7 billion.