NEW YORK, June 22 - Bending Spoons, a Milan-based technology company that specializes in acquiring and renovating software businesses, is pursuing a U.S. initial public offering that could raise as much as $1.62 billion, according to two people familiar with the plans. The prospective offering is notable both for its size among European listings this year and because it represents a relatively rare public debut for a large software-focused firm.
Those people, who spoke on condition of anonymity because the information is confidential ahead of a filing with the U.S. Securities and Exchange Commission expected later on Monday, said Bending Spoons plans to market 58 million shares in the IPO at a proposed price range of $26 to $28 apiece. Roughly 60% of the shares would be sold by the company itself; the remainder are slated to come from existing shareholders, including Baillie Gifford, which is expected to sell stock through the offering.
At the top end of the proposed price band, Bending Spoons would carry a market valuation of about $19 billion, according to one of the people. The company is targeting an early-July listing for the IPO, the source added.
The proposed transaction would come as U.S. equity markets have shown renewed momentum for initial public offerings after a prolonged slowdown. Activity among large technology listings has accelerated this year - a pattern reflected in sizable deals earlier in the year and a recent record debut by another issuer - and broader market data show companies have raised a combined $150 billion through 179 U.S. IPOs so far this year, according to Dealogic.
Bending Spoons operates as an acquirer and operator of digital assets. Its portfolio includes the video platform Vimeo and the file-sharing service WeTransfer. The company also acquired internet brand AOL and ticketing marketplace Eventbrite this year, according to information disclosed previously.
Financial results disclosed in a recent filing with the SEC show a significant swing in profitability and revenue for the company. For the three months ended March 31, Bending Spoons reported net income of $27.5 million on revenue of $601 million, compared with a net loss of $112.2 million on revenue of $259 million for the same quarter a year earlier.
In late 2025 the company raised $710 million in a funding round that valued the business at $11 billion prior to that investment, the Italian tech group said last year. For the planned IPO, Goldman Sachs Group, JPMorgan Chase and Allen & Co are leading the offering. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol "BSP."
Officials at Bending Spoons declined to comment. Baillie Gifford did not immediately respond to a request for comment, according to the people familiar with the matter.
Market context and positioning
The proposed offering will test investor appetite for software-sector IPOs, a category that has produced relatively few large public listings in recent years even as artificial intelligence and other forces reshape competitive dynamics. The structure of the deal - with the company selling a majority of the IPO shares and top existing investors participating in secondary sales - will also influence how investors weigh the transaction.
Listing timetable and logistics
Company and market sources say an SEC filing was expected later on Monday, with the company aiming for an early-July market debut on Nasdaq. The number of shares, the proposed price range and the allocation between primary and secondary shares are drawn from the people familiar with the offering details.