Ingram Micro Holding Corp., a leading distributor of computer and technology products, made a strong debut on the U.S. stock market on Thursday, with its shares surging 14.18% after an initial public offering that valued the company at nearly $5.2 billion.
The Irvine, California-based company sold 11.6 million shares at $22 apiece in the IPO, raising $255.2 million. Its private equity owner, Platinum Equity, also sold 7 million shares in the offering but retained a 90% stake in Ingram Micro after the IPO. The company's shares are trading on the New York Stock Exchange under the ticker symbol "INGM."
Ingram Micro's robust trading debut reflects investors' enthusiasm for the company, which serves as a crucial link between major technology manufacturers and a vast network of resellers and retailers worldwide. With a long-established presence in the IT distribution market, Ingram Micro is well-positioned to benefit from the growing demand for digital transformation and cloud computing services.
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