Via Transportation opens at $44, IPO at $46

Via Transportation opens at $44, IPO at $46

Via Transportation, a tech platform offering rideshare and transit services to local governments, priced its initial public offering (IPO) at $46 per share, above the expected range of $40 to $44. The company raised $493 million by selling 10.7 million shares, with 33% of the shares sold to secondary market investors. At the IPO price, Via Transportation commands a fully diluted market value of $4.2 billion .

Via Transportation's platform provides public transit agencies and operators with tools for planning, managing, and optimizing services such as microtransit, school transport, and paratransit. The platform integrates scheduling, dispatch, compliance, passenger booking, and data analytics, with optional services like fleet procurement and call center support. The company serves 689 customers in over 30 countries, with 70% of revenue coming from North America and 30% from Europe. Most of its revenue comes from government agencies, which account for over 90% of its total revenue .

Via Transportation aims to tap into the $545 billion global market for public transit services, believing it has reached about 1% of this market. The company plans to list on the NYSE under the symbol VIA. The IPO was led by Goldman Sachs, Morgan Stanley, Allen & Company, Wells Fargo Securities, Deutsche Bank, Guggenheim Securities, Citizens JMP, Needham & Co., Oppenheimer & Co., Raymond James, William Blair, Nomura Securities, and WR Securities .