Ingram Micro Holding Corp. had a successful debut on the stock market, with shares surging up to 17% after its initial public offering (IPO) that raised $409 million.
The technology company, supported by Platinum Equity, saw its stock price rise to $25 by midday in New York, representing a 14% increase from the IPO price of $22.
The IPO involved the sale of 11.6 million shares by Ingram Micro, while Platinum Equity sold an additional 7 million shares. The shares were offered at a price range of $20 to $23, indicating strong investor interest in the company as it enters the public market.