Rimini Street, a third-party maintenance and support provider for enterprise software including Oracle Siebel plans to conduct a registered initial public offering (IPO). The company completed a confidential submission of its draft registration statement and the offering is expected to commence after the SEC completes its review process.

Rimini Street is going public at a good time. New offerings are at their highest level since 2007. So far there have been 195 IPOs this year that have raised nearly $50 billion. This compares favoribly  when $65.4 billion was raised in 288 deals, but still well behind the dot-com bubble when almost 1,000 companies went public.