ForgeRock announces terms for IPO

Wednesday 8 September 2021 11:11 CET | News

US-based ForgeRock, which provides an identity management platform for enterprises, has announced terms for its IPO.

The company plans to raise USD 248 million by offering 11 million shares at a price range of USD 21 to USD 24. At the midpoint of the proposed range, ForgeRock would command a fully diluted market value of USD 2.1 billion.

ForgeRock states that it has built a digital identity platform with a differentiated SaaS architecture and identity object modelling approach that allows enterprises to secure, manage, and govern the identities of consumers, employees and partners, APIs, microservices, devices, and IoT.

Its identity platform provides a suite of identity management, access management, identity governance, and AI-powered autonomous identity solutions. Its platform can support over 60,000 user-based access transactions per second per customer.

ForgeRock plans to list on the NYSE under the symbol FORG. Morgan Stanley, J.P. Morgan, Deutsche Bank, Mizuho Securities, and HSBC are the joint bookrunners on the deal. It is expected to price during the week of 13 September 2021.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, IPO, digital identity, SaaS
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech