AquaVenture Holdings said Friday it has filed for an initial public offering, with the number of shares to be sold and their price range not yet determined. AquaVenture has applied to list its shares on the New York Stock Exchange under the symbol WAAS. Citigroup, Deutsche Bank Securities, and RBC Capital Markets are the underwriters. In the filing, the Tampa, Fla., company said it would seek to sell $100 million worth of shares, but that figure is often a placeholder. AquaVenture offers water-purifying and desalinization services as well as water dispensers to more than 40,000 customers worldwide, it said. “We believe that we are well positioned to capitalize on global growth opportunities driven by population growth, increasing urbanization and water scarcity,” the company said. Risks include failure to retain key employees or attract qualified personnel, and that its desalinization business depends “on a small group of customers for a significant amount” of revenue, the company said in the filing.
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