Transit tech firm Via Transportation and select existing investors raised $492.9 million in a U.S. initial public offering on Thursday, becoming the latest addition to the September rebound in IPO activity.
The New York-based company sold about 10.7 million shares at $46 each, priced above its marketed range of $40 to $44 apiece, giving Via a valuation of $3.65 billion.
Activity in the U.S. IPO market has rebounded in the autumn window of 2025, driven by an ebullient stock market, growing expectations of rate cuts and strong debuts by several big names.
Investor anxiety over U.S. President Donald Trump’s tariffs, which forced several companies to shelve their IPO plans, has also started to recede, in a welcome development for those looking to tap the public markets.
U.S.-listed shares of Swedish fintech firm Klarna rose 30 per cent at open on Wednesday, in one of the hotly anticipated debuts of the year.
Founded in 2012, Via’s technology combines on-demand shared rides and intelligent routing to optimize public transit systems in hundreds of cities across more than 30 countries.
Rising urban congestion and environmental concerns have led to calls on administrations worldwide to develop sustainable mixed-mode public transit systems.
Via first confidentially filed for an IPO in late 2021. The company was valued at $3.5 billion in a 2023 funding round led by venture firm 83North.
Goldman Sachs, Morgan Stanley, Allen & Company and Wells Fargo are the lead underwriters for Via’s offering. The company plans to list its shares on the New York Stock Exchange on Friday under the “VIA” ticker symbol.
Several other companies, such as the Winklevoss twins’ cryptocurrency exchange Gemini and Blackstone-backed engineering and maintenance service provider Legence, are also set to go public on Friday.
