(Reuters) -Shares of financial software maker OneStream, backed by private equity firm KKR, rose nearly 30% in their Nasdaq debut on Wednesday, valuing the company at nearly $6 billion.

Investors have shown optimism for new listings in 2024 on hopes of a soft landing for the economy, after two years of a sluggish U.S. IPO market fueled by geopolitical tensions and high borrowing rates.

OneStream's shares began trading at $26 apiece. The company's shareholders sold 24.5 million shares at $20 a share, above the targeted range of between $17 and $19 per share.

Commenting on the stock debut, OneStream CEO Tom Shea said it allows "us to amplify (the) message about the true value of a platform."

"We're really going to focus on... continuing to deliver on that message. And that comes from our investments in artificial intelligence (AI) and machine learning."

OneStream's platform was first launched in 2012 and helps finance chiefs prepare and report financial statements to regulators and investors. It now boasts of AI integrated financial forecasting resources for its clients.

KKR acquired a majority stake in the company in 2019, valuing the company then at over $1 billion.

Investors have shown interest in targeting AI-focused companies in recent months, on hopes of better exits.

"OneStream can perhaps be more accurately viewed as a fundamentally strong and rapidly expanding company that is being offered at an attractive valuation compared to other high-growth software peers," said Blake Brutocao, analyst at Renaissance Capital, a provider of pre-IPO research and IPO-focused ETFs.

The company raised $200 million in 2021 in a funding round led by D1 Capital Partners and participation from Tiger Global and Investment Group of Santa Barbara.

OneStream has over 1,400 customers across the globe including Toyota Motor, UPS, News Corp, and General Dynamics.