ITG, Inc. Prices 19.51M Shares at $16.00
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
ITG, Inc. priced 19.51M shares at $16.00, below the $19.00-$22.00 range. Morgan Stanley, Citi, UBS and Stifel acted as joint book running managers for the offering. ITG is a provider of end-to-end services to the communications and digital infrastructure industries.
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Analyst Views on ITG
Wall Street analysts forecast ITG stock price to rise
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Current: 13.600
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Current: 13.600
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
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- Net Proceeds Expectation: Excluding the underwriters' option to purchase an additional 2.9 million shares, ITG anticipates net proceeds of about $279.2 million, providing substantial funding support for future growth initiatives.
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See More
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- ITG's Underperformance: Engineering firm ITG raised $312 million below expectations at a $1.9 billion market cap, and despite stable demand for its infrastructure services, its stock fell 3% this week, indicating market concerns about future growth.
- Lime's Market Share: E-scooter rental platform Lime priced at the midpoint to raise $174 million, with an $1.8 billion market cap, serving 19 million users in 2025 and holding a 27% market share, demonstrating its leadership in the shared micromobility market.
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See More
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- Business Segments: ITG focuses on providing infrastructure services to broadband, wireless, and utility network operators across the U.S., operating through two main segments: Engineering & Maintenance and Infrastructure Deployment, ensuring ongoing network operations and expansions.
- Customer Base: The company serves a diverse clientele, including broadband service providers, fiber suppliers, wireless carriers, and data center operators, primarily maintaining stable revenue through long-term master service agreements.
- Underwriting Team: The IPO was jointly managed by prominent financial institutions including Morgan Stanley, Citi, and UBS Investment Bank, which bolstered market confidence in ITG's prospects.
See More
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- IPO Pricing: ITG, Inc. has priced its initial public offering at $16.00 per share for 19,512,196 shares, expected to begin trading on Nasdaq on July 1, 2026, indicating strong market demand for its digital infrastructure services.
- Underwriter Option: The company has granted underwriters a 30-day option to purchase an additional 2,926,829 shares at the IPO price, a strategy that may enhance market liquidity and attract more investors.
- Expected Net Proceeds: ITG anticipates net proceeds of approximately $279.2 million after deducting underwriting discounts and expenses, which will be used to repay outstanding revolving credit and term loans, significantly improving the company's financial position and reducing debt burden.
- Underwriter Lineup: Morgan Stanley, Citigroup, UBS Investment Bank, and Stifel are acting as joint bookrunners, showcasing their strong influence in the capital markets and bolstering investor confidence in ITG.
See More
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- Market Trading Arrangement: The stock is set to begin trading on the Nasdaq Global Select Market under the ticker symbol 'ITG' on July 1, which will enhance the company's market visibility and attract more investor interest.
- Net Proceeds Expectation: Excluding the underwriters' option to purchase an additional 2.9 million shares, ITG anticipates net proceeds of about $279.2 million, providing substantial funding support for future growth initiatives.
- Offering Closure Date: The offering is expected to close on July 2, 2026, marking a significant milestone for the company in the capital markets and further driving its expansion in the infrastructure services sector.
See More
