5 days ago
Oura Delays US IPO Despite Fourfold Investor Oversubscription
Oura makes smart rings that track health and fitness information.
The company planned to sell shares to the public in the United States.
Many investors wanted to buy the shares, with orders reportedly reaching about four times the available supply.
Even with this strong demand, Oura delayed the offering.
The company had planned to offer 50 million shares.
The price range was set at $40 to $44 per share.
Oura’s estimated market value could have reached about $14.1 billion.
The exact timing and details of the IPO may still change.
Other companies have also postponed IPOs during a difficult market period.
Oura has postponed its planned initial public offering in the United States.
The offering reportedly attracted about four times more orders than available shares.
Oura and selling shareholders planned to offer 50 million shares at $40-$44 each.
At the top of the range, Oura’s market value would be about $14.1 billion.
The shares were expected to trade on Nasdaq under the symbol OURA.
- Who
- Oura Inc., along with existing shareholders including Forerunner Ventures and Lifeline Ventures.
- What
- The company postponed its planned US initial public offering despite reported demand exceeding available shares by about four times.
- Where
- The offering was planned for the United States, with shares expected to trade on the Nasdaq Global Select Market.
- When
- Oura announced the delay on Tuesday; the IPO had been scheduled to price on September 29.
- Why
- No definitive reason was given for Oura’s delay; the article notes strong demand and a choppy IPO market, while saying listing details remained subject to change.
Strong Investor Demand
Cautious IPO Market
Reasons surrounding the delay
Strong Investor Demand
The reported order book was about four times larger than the number of shares available, indicating substantial investor interest in Oura’s offering.
Cautious IPO Market
The article describes the broader IPO market as choppy and notes that other companies recently postponed offerings while citing market conditions; it does not say Oura officially gave this as its reason.
Key facts
- Planned offering
- 50 million shares
- Proposed price range
- $40-$44 per share
- Oura shares offered
- 13.5 million
- Shares offered by existing shareholders
- 36.5 million
- Potential market value
- About $14.1 billion at the top of the price range
- Fully diluted valuation
- About $15 billion
- Planned ticker
- OURA on the Nasdaq Global Select Market
Sources
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