By Colin Kellaher
Ingram Micro is set to make its return to the U.S. equity markets Thursday after an initial public offering that gave the computer and technology products distributor a market capitalization of nearly $5.2 billion.
Ingram, owned by private-equity firm Platinum Equity, sold 11.6 million shares at $22 apiece in the IPO, above the midpoint of an expected price range of $20 to $23 a share.
Platinum sold another seven million shares in the offering, bringing the size of the IPO to 18.6 million shares, but will still own about 90% of the Irvine, Calif., company after the IPO.
Platinum acquired Ingram from China's HNA Group in a $7.2 billion transaction that closed in mid-2021. HNA had taken Ingram private in 2016 in a $6 billion deal.
Ingram shares are slated to begin trading later Thursday on the New York Stock Exchange under the symbol INGM.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 24, 2024 06:01 ET (10:01 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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