Oaktree-backed ITG poised to open higher in Nasdaq debut after $312 million IPO
BUZZ-Oaktree-backed ITG poised to open higher in Nasdaq debut after $312 million IPO Updates
** Digital infrastructure company ITG ITG.O on track to open above offer price in Nasdaq debut after $312.2 million IPO
** Stock recently indicated to open at $28.80 apiece vs $16 IPO price
** ITG sold 19.5 million shares in IPO below marketed range of $19 to $22 apiece
** Company provides end-to-end services across United States supporting the planning, design, construction, operation, maintenance, and expansion of broadband, wireless, data center, utility, and civil infrastructure
** Comcast CMCSA.O and Charter Communications CHTR.O accounted for 60% of ITG's revenue last year
** Investment firm Oaktree Capital Management bought ITG in 2021, in partnership with the firm's management
** Morgan Stanley, Citigroup, UBS Investment Bank and Stifel acted as representatives of the underwriters for offering
(Reporting by Arasu Kannagi Basil in Bengaluru)