NEW YORK, April 14 (Reuters) - Cybersecurity software

firm Rubrik, which counts Microsoft ( MSFT ) among its prominent

investors, is aiming to raise as much as $713 million in its

initial public offering, according to a person familiar with the

matter.

Palo Alto, California-based Rubrik is planning to sell 23

million shares priced between $28 and $31 per share, the source

said on condition of anonymity because the discussions are

confidential.

At the upper end of the range, Rubrik would be valued at

about $5.4 billion, the source added, cautioning the company's

plans are subject to market conditions and could change.

Rubrik did not immediately respond to a request for comment.

Rubrik's plans to go public come as the U.S. IPO market is

showing early signs of a rebound after stock market launches

froze up during most of 2022 and 2023.

Following the successful stock market flotations of social

media platform Reddit ( RDDT ) and semiconductor connectivity

firm Astera Labs ( ALAB ), several companies including Cato

Networks and Synechron have kicked off preparations to go

public.