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UPDATE 1-SAP-owned Qualtrics aims for $15 billion valuation in U.S. IPO

(Adds more details from filing)

Jan 25 (Reuters) - Survey-software seller Qualtrics International Inc, owned by business software group SAP , is aiming for a valuation of roughly $15 billion in its U.S. initial public offering, as it tees up for a blockbuster market debut.

Qualtrics’ plan adds to the IPO frenzy as U.S. capital markets hover around record highs, with investors ever so hungry for high-growth tech stocks.

Companies raised about $168 billion in the United States in 2020, according to Dealogic data. In comparison, companies raised $108 billion in 1999, which previously held the record for capital raised through new issues.

Qualtrics, which plans to list on Nasdaq under the ticker symbol XM, was acquired two years ago by SAP for $8 billion. It boosted its price range on Monday and is now looking to raise up to $1.46 billion - at the upper end of its price range, it said in a filing.

Over the past year, SAP held remote investor roadshows for the IPO by Qualtrics, which was bought by SAP under previous chief executive Bill McDermott two years ago and measures sentiment between businesses and their customers across digital “touch points”.

In an interview last year, SAP Chief Executive Officer Christian Klein said floating the unit had been the only way to keep on board the Qualtrics leadership team led by founder Ryan Smith, who was unsettled by the departure of SAP’s American co-CEO Jennifer Morgan.

SAP will keep a controlling stake for years to come, Klein had said.

Morgan Stanley and JPMorgan are the lead underwriters for the offering. (Reporting by Anirban Sen in Bengaluru; Editing by Anil D’Silva, Bernard Orr)

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