San Francisco, 29 September 2026 – Smart-ring maker Oura has postponed its planned US initial public offering after volatile markets clouded demand for new listings. The company had marketed 50 million shares at an indicated US$40 to US$44 each and was expected to price the deal on Tuesday. Its decision is a postponement, not confirmation that the offering has been abandoned or that its underlying business has deteriorated.
At the top of the indicated range, the share count would have represented a transaction value of about US$2.2 billion. The reported fully diluted valuation at that price was US$15.62 billion. These numbers measure different things: the former is the value of shares proposed for sale, including shares from existing holders, while the latter is the implied value of the company’s fully diluted equity. Treating the US$2.2 billion as cash that Oura itself would have received would overstate the proceeds available for its operations.
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