Platinum Equity's Ingram Micro seeks up to $5.4 billion 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.

A rally in equities and strong debuts by recently listed private equity-backed firms such as aircraft maintenance services provider StandardAero and childhood education provider KinderCare Learning are encouraging buyout firms to list their portfolio companies.

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 list 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.

Source: Investing.com