On Monday, data analytics company Palantir Technologies Inc said, it has confidentially filed paperwork with the U.S. Securities and Exchange Commission (SEC) to go public.
The submission relates to Palantir’s proposed public listing of its Class A common stock, it said in a statement while adding, the listing is expected to take place after the SEC completes its review process.
Palantir did not disclose the size of its offering in its statement. It is still deliberating whether to go public via a traditional IPO or a direct listing.
Co-founded in 2004 by billionaire Peter Thiel, Palantir has been involved in some of the U.S. government’s most politically sensitive projects, from identifying terrorists to the tracking of illegal immigrants.
In 2015, it was valued at around $20 billion during its most recent fundraising.
According to market sources, in recent weeks, its shares have been traded in the private market at a valuation of between $10 billion and $12 billion, according to market sources.
Palantir has also been working with a number of countries to tackle the COVID-19 pandemic, by tracing the spread of the virus and managing the production of critical medical supplies.