07:09 AM EDT, 05/29/2025 (MT Newswires) -- Morgan Stanley ( MS ) has been hired by cybersecurity firm Netskope for a prospective US initial public offering that could raise over $500 million, Reuters reported Thursday, citing people familiar with the matter.

The report said the IPO could launch as early as Q3 and value the company at more than $5 billion, although the timing and valuation would depend on market conditions.

Founded in 2012 and based in Santa Clara, California, Netskope provides cloud-based security tools, with clients like Ross Stores (ROST) and Yamaha, Reuters said.

Netskope and Morgan Stanley ( MS ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)