The company will likely wait till 2024, the Journal's report added, citing people familiar with the matter. Waystar declined to comment on the report, when contacted by Reuters. Reuters reported in August that Waystar was eyeing an IPO that could value the company as much as $8 billion, including debt. Still, hopes of the new listings – including those of chip designer Arm ARM.O, and grocery delivery app Instacart CART.O – buoying the IPO market were dashed after the stocks fell below their IPO price soon after debut. Earlier this month, Birkenstock's BIRK.Nshares ended more than 12% below its IPO price in an underwhelming Wall Street debut that signaled investors remain cautious about new listings.

Source: Wall Street Journal October 31, 2023 21:39 UTC