Ingram Micro Sets Sights on $5.4 Billion Valuation with Upcoming IPO
Ingram Micro plans to raise $427.8 million in its IPO, targeting a valuation of $5.42 billion, fueled by strong market momentum and investor interest
Ingram Micro, a major player in the technology products distribution sector and backed by private equity, is setting its sights on a valuation of up to $5.42 billion for its upcoming initial public offering (IPO) in the United States. This announcement, made on Tuesday, comes at a time when the market is showing positive signs, thanks to a recent rally in equities. Strong performances from newly listed private equity-backed firms like StandardAero, which specializes in aircraft maintenance services, and KinderCare Learning, known for its focus on childhood education, have further encouraged other buyout firms to explore public listings for their portfolio companies.
The company plans to offer 11.6 million shares, while its backer, Platinum Equity, is set to sell 7 million shares at a price range of $20 to $23 each. This move aims to raise as much as $427.8 million, providing a significant boost for the company as it prepares for its market debut. Once the IPO is finalized, Ingram Micro will trade on the New York Stock Exchange under the ticker symbol "INGM."
To facilitate this offering, over a dozen prominent Wall Street banks, including Morgan Stanley, Goldman Sachs, and J.P. Morgan Securities, are acting as underwriters. The decision to go public is a strategic one for Ingram Micro, signaling its confidence in capturing investor interest and leveraging favorable market conditions.
As Ingram Micro prepares for this pivotal moment, the technology distribution industry is watching closely. The success of this IPO could not only elevate the company’s profile but also inspire other firms to pursue similar opportunities in a rapidly evolving market landscape.
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