New York: Healthcare payments software maker Waystar Holding Corp fell 3.7% in its trading debut after raising US$968mil in the year’s largest initial public offering (IPO) by a US-based company. Shares of Waystar, whose backers include EQT AB and Canada Pension Plan Investment Board (CPPIB), closed last Friday at US$20.70, giving the company a market value of about US$3.45bil. The company sold 45 million shares for US$21.50, the midpoint of the marketed range. Like Viking, the two other companies with bigger New York IPOs than Waystar this year are based outside the US. The firm’s investors, which include Bain Capital and Francisco Partners and their affiliates, aren’t selling shares in the IPO.
