(Reuters) – KinderCare Learning Companies, a provider of early childhood education, set a target of up to $3.09 billion valuation on Monday for its long-sought U.S. initial public offering.
The 55-year old company, backed by Swiss private equity firm Partners Group, is moving towards a listing after previously pursuing it in 2021.
KinderCare is aiming to raise up to $648 million by offering 24 million shares at a price range of $23 and $27 each.
The offering is being underwritten by more than 10 Wall Street banks, led by Goldman Sachs, Morgan Stanley, Barclays, and J.P. Morgan.
KinderCare will list on the New York Stock Exchange under the symbol “KLC.”
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)
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