Oaktree-backed ITG targets $2.7B valuation in US IPO
Digital infrastructure firm ITG is targeting a valuation of up to $2.67 billion in its US IPO, joining a wave of companies rushing to capitalize on AI-driven demand and a busy summer IPO window. The move comes as the post-SpaceX IPO market remains active.
Key Numbers
Digital infrastructure company ITG, backed by Oaktree Capital Management, is targeting a valuation of up to $2.67 billion in its US initial public offering (IPO), according to sources. The move comes amid a busy summer IPO window, with companies rushing to list before the traditional summer lull, following strong market conditions post-SpaceX's IPO.
IPO Details
ITG plans to list on the New York Stock Exchange under the ticker "ITG." The number of shares and price range have not yet been disclosed. The company could raise up to $2.7 billion at the targeted valuation.
Context
US IPO activity has picked up, fueled by demand for AI and digital infrastructure technologies. On the same day, Uber-backed electric-bike startup Lime and silver miner Sinda also launched their US IPO roadshows.
What It Means for Investors
ITG's IPO offers exposure to the growing digital infrastructure sector, but the high valuation may raise questions about future returns amid intense competition.
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