Elmet on track to surge in New York debut after upsized $120 million IPO

Elmet

23/04/2026 16:08

** Precision-engineered components maker Elmet Group ELMT.O on track to open above offer price in Nasdaq debut

** Stock recently indicated to open at $19 apiece vs $14 offer price

** Portland, Maine-based ELMT sold roughly 8.6 million shares in an upsized IPO at top end of marketed range of $12 and $14 apiece

** Elmet makes components and high-energy systems using critical materials for aerospace, ​defense and semiconductor sectors

** Cantor acted as lead book-running manager for offering

** Elmet's history includes over 70 years as part of Royal Philips and Philips Lighting

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))