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.

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

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.

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

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.

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."

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,

SailPoint is targeting a valuation of up to US$11.5 billion ($18.4 billion) in its New York flotation, as the cyber security firm looks to go public again in the United States after more than two years.