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Via Transportation, a transit technology company, aims to raise up to $3.5 Billion in its US IPO

Via Transportation, a transit technology company, said it would aim for a valuation up to $3.50billion in its initial public offer. It joins a number of other companies that are planning to list on U.S. stock exchanges by the fall.

Via is offering 10,7 million shares at a price between $40 and $44 each to raise $471 million.

Investor interest in IPOs is increasing amid a rally on the equity markets, fueled by strong tech earnings. Expectations of short-term rate cuts are also growing.

The popularity of first-time shares has also been boosted by the debuts of design software company Figma and crypto exchange Bullish.

Goldman Sachs is the lead underwriter for Via. Morgan Stanley, Allen & Company, and Wells Fargo will also be involved. The company intends to list its shares at the New York Stock Exchange with the ticker "VIA". (Reporting by Ateev Bhandari in Bengaluru; Editing by Shailesh Kuber and Shilpi Majumdar)

(source: Reuters)