Madison Air poised to open above offer price in New York debut
16/04/2026 15:24
Updates ** Heating, ventilation and air conditioning (HVAC) firm Madison Air Solutions MAIR.N on track to open above offer price in NYSE debut ** Stock indicated to open between $28 and $30 per share vs $27 IPO price ** The indoor air systems provider sold 82.7 million shares late on Wednesday at the top end of marketed range of $25 to $27 apiece to raise $2.23 billion ** MAIR's $2.2 billion offering is the largest U.S. IPO so far this year and the biggest industrial IPO in New York since UPS raised $5.5 billion in 1999, according to Renaissance Capital, a provider of IPO-focused research and ETFs ** Madison Air was formed through a series of acquisitions beginning in 2017 under the ‚Äãleadership of Larry ‚ÅÝGies, founder and CEO of privately held Madison Industries ** Rapid AI growth has fueled demand ‚Äåfor ‚ÅÝadvanced cooling equipment to manage heat from power-intensive servers, benefiting Madison Air ** Goldman Sachs, Barclays, Jefferies and Wells Fargo Securities acted as lead bookrunning managers for the offering (Reporting by Arasu Kannagi Basil in Bengaluru) ((ArasuKannagi.Basil@thomsonreuters.com;))