Reuters: IPOX® CEO Josef Schuster on Positive Sentiment for PE-Backed IPOs

Reuters reports that Phoenix Education Partners, the owner of the University of Phoenix, is targeting a valuation of up to $1.17 billion in its upcoming U.S. IPO. The private equity–backed firm, supported by Apollo Global and Vistria Group, is seeking to raise as much as $140.3 million by offering shares priced between $31 and $33 apiece. The company is expected to list on the New York Stock Exchange under the ticker "PXED."

Amid the broader pickup in IPO activity, IPOX® CEO Josef Schuster commented on the trend, noting:

"Excellent sentiment for U.S. IPOs overall will continue to benefit PE-backed IPOs as well."

He added that private equity listings differ from traditional offerings:

"Given that PE deals are capital structure transactions with no proceeds going to the firm; however, it's much more a buyer's market for those deals."

The deal underscores renewed momentum in U.S. listings, particularly among sponsor-backed companies returning to public markets after several years of subdued activity.

Read the full article by Arasu Basil on Reuters: University of Phoenix owner eyes $1.2 billion valuation in US IPO