July 7th, 2015–Bentley Systems has announced that it had submitted a draft registration statement to conduct an initial public offering of its stock. After the Securities and Exchange Commission (SEC) reviews the statement, the company will begin selling stock. At this point it will officially trade as public company.
The filing is confidential, so no further details have been released.
Bentley Systems previously applied to the SEC for an IPO in 2002, planning to sell up to $172.5 million in stock during the offering. The company withdrew that offering later in the year, noting a market that had turned “hostile to software company IPO’s” and a desire to “focus instead on managing our business, which continues its growth and profitability.”
More on this story as it develops. See below for SPAR’s recent interview with Greg Bentley.