Via Transportation Raises $493 Million in US IPO

Via Transportation, a New York-based transit technology company, raised approximately $493 million in its U.S. initial public offering, pricing 10.7 million shares at $46 each, above the expected range of $40 to $44 per share, resulting in a valuation of $3.65 billion. The company's technology integrates on-demand shared rides with intelligent routing to enhance public transit systems across more than 30 countries, addressing urban congestion and environmental concerns. The IPO reflects a broader resurgence in the U.S. public offering market, bolstered by an active stock market, expectations of interest rate cuts, and diminishing investor anxiety over President Trump's trade policies, which had previously delayed some IPO plans. Via initially filed for an IPO confidentially in late 2021 and was valued at $3.5 billion in a 2023 funding round led by 83North. Major financial institutions including Goldman Sachs, Morgan Stanley, Allen & Company, and Wells Fargo led the underwriting of the offering, with shares set to trade on the New York Stock Exchange under the ticker "VIA." The IPO is part of a trend of renewed market activity with other companies like Gemini and Legence also preparing to go public.