Platinum Equity's Ingram Micro to raise about $409 million in US IPO

(Reuters) -Ingram Micro priced its U.S. initial public offering at $22 per share, within its targeted range of $20 and $23 on Wednesday, raising $409.2 million, the technology distributor said.

Ingram Micro and its private equity owner, Platinum Equity, sold 18.6 million shares at $22 each. The IPO valued the Irvine, California-based company at around $5.18 billion.



The offering was underwritten by over a dozen Wall Street banks, led by Morgan Stanley, Goldman Sachs and J.P. Morgan Securities.

Ingram's shares are expected to start trading on the New York Stock Exchange on Oct. 24 under the ticker symbol "INGM."

Source: Investing.com