The move paves the way for the company to debut on the New York Stock Exchange on Wednesday, amid a wave of new IPOs that the market has seen after a long hiatus. NIQ provides data on consumer shopping behavior, helping brands and retailers improve products and strategies. The company’s roughly 23,000 clients include giants such as Coca-Cola, Nestlé and Sony.
NIQ is headquartered in Chicago, Illinois, and is led by Jim Peck, former CEO of the credit bureau TransUnion.
For the three months ended March 31, NIQ reported revenue of $965.9 million, up slightly from the same period a year earlier. Net loss attributable to shareholders narrowed to $73.7 million from $173.9 million a year earlier.
NIQ said the funds raised in the IPO will be used to repay some debt and for general corporate purposes. The company’s main competitors include Circana and YouGov.
Among the organizers of the share placement are JP Morgan, BofA Securities and UBS Investment Bank.
The share placement took place more than four years after NIQ was separated from Nielsen Holdings.
Source: Reuters