SailPoint said on Tuesday it was targeting a valuation of up to $11.5 billion in its New York flotation, as the cybersecurity firm looks to go public again in the United States after more than two years.

Cybersecurity company SailPoint is hoping to sell $1 billion worth of stock in its upcoming IPO and offer another signal that IPOs will become hot again.

SailPoint Inc., an enterprise security software company owned by Thoma Bravo, and shareholders are seeking to raise as much as $1.05 billion in its initial public offering.