Platinum Equity's Ingram Micro seeks up to $5.4 bln valuation in US IPO
Technology
Platinum Equity's Ingram Micro seeks up to $5.4 bln valuation in US IPO
(Reuters) - Ingram Micro is targeting a valuation of as much as $5.42 billion in its initial public offering in the United States, the private equity-backed technology products distributor said on Tuesday.
Ingram Micro is offering 11.6 million shares, while Platinum Equity is selling 7 million shares at a price range of $20 to $23 each to raise as much as $427.8 million.
Ingram will be listed on the New York Stock Exchange under the symbol "INGM".
The offering is being underwritten by over a dozen Wall Street banks, led by Morgan Stanley, Goldman Sachs, and J.P. Morgan Securities.
