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.

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."

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.

Dubai will seek up to $500 million from the initial public offering of ALEC Engineering & Contracting LLC, according to people familiar with the matter, as the emirate seeks to revive its privatization drive.

Thoma Bravo-owned identity security firm SailPoint is signaling that it’s moving closer to completing its planned IPO, with the company listing a proposed share range for the offering.

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