US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/via-transportation-inc" target="_blank" data-smartkarma-citation="entities:45670:1" rel="noopener">Via Transportation (VIA US)</a> went public on 12 September 2025 on the NYSE and has a current market cap of more than $4bn.</li>
<li>Inclusion in US indices is expected in December 2025, as the security meets eligibility criteria ahead of the lock-up expiry.</li>
<li>Inclusion in Global indices is expected in 2026 with a potential delay due to free float and float cap constraints.</li>
</ul>



Via Transportation (VIA US) went public on 12 September 2025 on the NYSE and has a current market cap of more than $4bn.
Inclusion in US indices is expected in December 2025, as the security meets eligibility criteria ahead of the lock-up expiry.
Inclusion in Global indices is expected in 2026 with a potential delay due to free float and float cap constraints.


Via Transportation (VIA US): US Index Inclusion in 2025; Going Global in 2026

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

Via Transportation / Equity Capital Markets

<ul>
<li>Via Transportation priced its public offering at $46.00 per share, above the marketed range of $40–$44, but opened at $44.00, down 4.5% from issue.</li>
<li>Investors quickly stepped in, and within 30 minutes, the stock climbed above the IPO price. The stock closed at $49.51 or 7.6% above issue.</li>
<li>Looking forward, we see Via as a potential long-term play, given the sticky nature of its contracts and the enormous opportunity to modernize public transportation infrastructure.</li>
</ul>


Via Transportation priced its public offering at $46.00 per share, above the marketed range of $40–$44, but opened at $44.00, down 4.5% from issue.
Investors quickly stepped in, and within 30 minutes, the stock climbed above the IPO price. The stock closed at $49.51 or 7.6% above issue.
Looking forward, we see Via as a potential long-term play, given the sticky nature of its contracts and the enormous opportunity to modernize public transportation infrastructure.


Via Transportation (VIA): Above-Range Ticket, Below-Range Start — Via IPO Finds Its Route

<ul>
<li>According to our sources, the deal is multiple-times oversubscribed, with strong participation from long-only investors and continued one-on-one conversions.</li>
<li>They currently have 689 customers but believe they have a serviceable customer total of more than 63,000.</li>
<li>The platform is scalable and the "land-and-expand" strategy has been effective with a CAGR of 50% in the last four years.</li>
</ul>


According to our sources, the deal is multiple-times oversubscribed, with strong participation from long-only investors and continued one-on-one conversions.
They currently have 689 customers but believe they have a serviceable customer total of more than 63,000.
The platform is scalable and the "land-and-expand" strategy has been effective with a CAGR of 50% in the last four years.


Via Transportation (VIA): Customer Stickiness Adds Appeal to Upcoming IPO

<ul>
<li>Via Transportation will offer 10.7 million shares at $40-$44 and is scheduled to debut on Friday, September 12th.</li>
<li>Wellington Management has indicated an interest in purchasing up to $100 million in shares of Class A common stock in this offering.</li>
<li>With a large addressable market and solid revenue numbers, the company is positioned nicely for growth in the future. </li>
</ul>


Via Transportation will offer 10.7 million shares at $40-$44 and is scheduled to debut on Friday, September 12th.
Wellington Management has indicated an interest in purchasing up to $100 million in shares of Class A common stock in this offering.
With a large addressable market and solid revenue numbers, the company is positioned nicely for growth in the future. 


Via Transportation Inc. (CI): Transportation Solutions Provider Sets Terms Seeking $3.5b Valuation

<ul>
<li>Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks.</li>
<li>From 2021 to 2024, their revenue grew from $100.0 million to $337.6 million, representing a compound annual growth rate of 50%.</li>
<li>The company officially filed for its IPO on  August 15th and is likely to be one of the first transactions following Labor Day. </li>
</ul>


Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks.
From 2021 to 2024, their revenue grew from $100.0 million to $337.6 million, representing a compound annual growth rate of 50%.
The company officially filed for its IPO on  August 15th and is likely to be one of the first transactions following Labor Day. 


Via Transportation Inc. (CI): Peeking at the Prospectus of Public Transportation Solutions Provider

United States

Via Transportation, Inc. provides transittech solutions. The Company offers a cloud-based vertical platform with a range of tools to manage the operations of fixed-route forms of mobility, including microtransit, paratransit, non-emergency medical, and school transport. Via Transportation serves customers globally.

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Via Transportation (VIA US)