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Cybersecurity provider Netskope boosts IPO range as it tests tech hotstreak

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Sanjay Beri, chief executive officer and founder of Netskope Inc., listens during a Bloomberg West television interview in San Francisco, California.

Netskope is targeting a $7.3 billion valuation in its upcoming initial public offering, after lifting its planned price range.

The cybersecurity company said it plans to sell 47.8 million shares at between $17 and $19 apiece. The deal would raise as much as $908 million at the top end.

That's up from a previous range of $15 to $17 a share the company revealed in a filing last week, at a $6.5 billion valuation.

The cloud security company revealed plans to go public on the Nasdaq in a filing last month. Its planned debut comes amid an influx of big cybersecurity deals and during a resurgence in IPO activity after soaring inflation and interest rates squashed appetite for tech deals.