The company, which caters to the communications and digital infrastructure sectors, confirmed that underwriters have an option to purchase an additional 2.9 million shares of common stock. Trading is scheduled to commence on the Nasdaq Global Select Market on July 1 under the ticker symbol ITG.
In section Market Quotes
ITG Sets IPO Price at $16 Amid Market Reset
Infrastructure provider ITG will debut on the Nasdaq at $16 per share, a figure that falls significantly short of the company’s earlier projections. The pricing for the 19.5 million shares signals a cooling appetite for the offering, as the original expectations had pinned the value between $19 and $22.
Despite the reduced valuation, the ownership structure remains concentrated. Oaktree Capital Management, a subsidiary of Brookfield Asset Management, maintains a firm grip on the business. Following the completion of the IPO, the investment manager will retain more than 80% of the company’s total voting power, ensuring Oaktree exerts continued control over the firm's strategic direction.
Comments (0)
No comments yet. Be the first!