Key Takeaways Cybersecurity firm SailPoint is reportedly targeting an IPO valuation of up to $11.5 billion.SailPoint and parent Thoma Bravo plan to offer 50 million shares priced between $19 and $21,

Cybersecurity company SailPoint is hoping to sell $1 billion worth of stock in its upcoming IPO and offer another signal that IPOs will become hot again.

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.