Artificial intelligence software developer Astera Labs has raised $713 million in the largest initial public offering of 2024. The company listed 19.8 million shares on the stock exchange at $36 each, Astera’s market capitalization was 5.5 billion dollars.
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Astera Labs held the largest IPO of 2024, putting 19.8 million shares public at $36 per share. Bloomberg writes about this.
Based on its free float, Astera Labs has a market capitalization of $5.5 billion.
Astera Labs planned to list 17.8 million shares at $27-$30 per share, but demand for the company’s securities exceeded expectations amid investor interest in AI-related technologies.
The largest shareholder of Astera Labs after the IPO is the investment company Sutter Hill Ventures, which, together with affiliated funds, owns 19% of the company’s capital. Intel Corporation is also a shareholder in Astera Labs.
Author:
Kirill Bilyk
Source: RB
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