(Reuters) -Transit technology maker Via Transportation said on Wednesday it was targeting a valuation of up to $3.50 billion in its initial public offering, joining a wave of companies aiming to list their shares on U.S. exchanges this fall.

Via and some of its existing investors are seeking to raise up to $471 million by offering 10.7 million shares priced between $40 and $44 apiece.

Investor appetite for IPOs has strengthened amid an equity market rally fueled by robust tech earnings and growing expectations of interest rate cuts in the short term, even as stubborn inflation and labor market uncertainty continue to cloud the broader economic outlook.

Blowout debuts from design software maker Figma and crypto exchange Bullish have also enhanced the appeal of first-time share sales.

Goldman Sachs, Morgan Stanley, Allen & Company and Wells Fargo are the lead underwriters for Via's offering. The company plans to list its shares on the New York Stock Exchange under the ticker symbol "VIA".