Digital infrastructure services firm ITG Inc. NASDAQ:ITG raised $312.2 million in its US IPO after selling 19.5 million shares at $16 each, below the marketed range of $19 to $22. The pricing gives ITG a market value of $1.94 billion, based on the outstanding share count listed in its filings. The company is expected to begin trading Wednesday on the Nasdaq under the symbol ITG.
ITG provides installation, construction and maintenance services for broadband, wireless and fiber networks. Backed by Oaktree Capital Management, the Hendersonville, Tennessee-based company now has more than 10,000 employees after a series of acquisitions in recent years. Oaktree's power opportunities team acquired ITG in partnership with management in 2021, and its affiliates will continue to control a majority of voting power after the listing.
The deal could still draw investor attention as IPO activity has picked up sharply this year, helped heavily by SpaceX's NASDAQ:SPCX record listing. US listings have raised $126.7 billion in 2026, compared with $16.7 billion during the same period in 2025, excluding blank-check companies and other financial vehicles. ITG's financial profile may remain a key focus, as the company reported a net loss of $13.2 million on revenue of $333.9 million in the three months ended March 31, versus net income of $1.58 million on revenue of $225.4 million in the same period in 2025, while its two largest customers accounted for 60% of revenue last year.