Cybersecurity company SailPoint is hoping to sell $1 billion worth of stock in its upcoming IPO and offer another signal that IPOs will become hot again.

SailPoint said on Tuesday it was targeting a valuation of up to $11.5 billion in its New York flotation, as the cybersecurity firm looks to go public again in the United States after more than two years.

SailPoint Inc., an enterprise security software company owned by Thoma Bravo, and shareholders are seeking to raise as much as $1.05 billion in its initial public offering.

Austin-based cybersecurity firm SailPoint said it is aiming for a valuation as high as $11.5 billion for its upcoming IPO.

Private-equity firm Thoma Bravo taking company public at an estimated market cap of $11 billion in its return to the stock market

Austin-based cybersecurity company SailPoint will once again become a publicly traded company. As it starts its roadshow for its upcoming initial public offering, the company is seeking to raise about $1 billion by pricing about 50 million shares at $19 to $21 each. It will likely trade on the Nasdaq under the ticker "SAIL."

Cybersecurity firm SailPoint said on Tuesday it was targeting a valuation of up to $11.5 billion in its initial public offering in the United States. Private equity-backed companies are expected to lead the charge in the IPO market as sponsors look to unload holdings and return capital to investors.

Thoma Bravo-owned identity security firm SailPoint is signaling that it’s moving closer to completing its planned IPO, with the company listing a proposed share range for the offering.

Key Takeaways Cybersecurity firm SailPoint is reportedly targeting an IPO valuation of up to $11.5 billion.SailPoint and parent Thoma Bravo plan to offer 50 million shares priced between $19 and $21,