ZoomInfo, supported by Carlyle, plans to raise about $ 800 million on the Nasdaq listing

(Reuters) – ZoomInfo Technologies Inc. expects to raise up to $ 801 million in its U.S. initial public offering (IPO) as the new issue market recovers after the COVID-19 pandemic has suspended several debuts for some months.

The Carlyle-backed business intelligence platform said on Wednesday that it expects its 44.5 million share offering to be priced between $ 16 and $ 18 per class A share, valuing it at $ 6, 89 billion at the top of the range. (bit.ly/2TKplRk)


Some funds and accounts managed by BlackRock Inc units (BLK.N), entities related to Dragoneer Investment Group and Fidelity Management & Research Company have indicated an interest in buying shares worth US $ 100 million each as part of the IPO, ZoomInfo said in a document.

ZoomInfo follows Warner Music Group, which said on Tuesday that it intended to sell up to $ 1.82 billion in shares in its U.S. IPO, potentially the largest New York listing so far in 2020.

The COVID-19 health crisis shook the capital market and hit the brakes on several listings in March. The pause, however, is showing signs of abating.


JPMorgan and Morgan Stanley were the main bookrunners for the offer on the Nasdaq stock exchange, ZoomInfo said.

ZoomInfo said that its customers in the sectors most affected by the pandemic, including retail, restaurant, hotels, airlines and oil and gas, may reduce their technology or sales and marketing expenses, which could adversely affect their business.


Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shinjini Ganguli


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