ITG, a provider of outsourced services for broadband and utility infrastructure, closed its initial public offering on June 30, raising $312.2 million by selling Class A common shares at a price below the company’s marketed range of $19 to $22 per share.
Approximately 19.5 million shares were offered in the deal, which was led by Morgan Stanley among other underwriters. The company is backed by Oaktree Capital Management and is expected to begin trading on Nasdaq under the ticker symbol ITG starting July 1.
Pricing below range in a crowded IPO market
The proceeds will primarily go toward repaying existing debt, with any remaining funds earmarked for general corporate purposes.
For a company that reported a net loss of approximately $8.46 million over the 12-month period ending March 31, 2026, cleaning up the balance sheet is a reasonable first move.
