Shares of NIQ Global Intelligence (NYSE:NIQ) closed down 9.5% on its first day of trading on the New York Stock Exchange after opening 4.2% below the offering price in its IPO debut. The research and analytics company offered 50M ordinary shares and aimed to raise $1.

Including debt, NIQ is going public at an enterprise value of US$9.5bn, valuing it at 12.3x trailing Ebitda. That narrows to a roughly 8x multiple of 2026 Ebitda projected by investment banks, versus the 12.7x multiple consumer credit bureau Transunion currently trades, according to LSEG data.