Headline: Ingram Micro Debuts on NYSE, Soaring to a $6 Billion Valuation

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Headline: Ingram Micro Debuts on NYSE, Soaring to a $6 Billion Valuation

Ingram Micro Inc. experienced a 15% surge in its shares today as it returned to the New York Stock Exchange (NYSE), reaching a valuation of $6 billion. This highlights strong investor interest in one of the world's leading technology distributors.

The company's significant initial public offering (IPO) occurs during a resurgence of IPOs in the U.S. This revival is fueled by strong stock market performance and boosted investor confidence. Expectations of reduced uncertainties in the coming year, such as the presidential election and potential future interest rate cuts, are encouraging more companies to go public.

In collaboration with private equity owner Platinum Equity, Ingram Micro raised approximately $409.2 million through the public offering by selling 18.6 million shares. Initially priced at $22, within the anticipated range of $20 to $23, this set the company's pre-trading valuation at $5.18 billion. The stock opened at $25.28 on the NYSE.

This IPO arrives as the global consumer electronics sector is poised for a robust upgrade cycle, supported by the integration of new artificial intelligence features across a broad spectrum of products, from smartphones to home appliances.

CEO Paul Bay emphasized the company’s strategic investments, particularly over $600 million in its cloud business. Bay stated, "One of the things we did and continue to do under Platinum is invest ahead of the curve," highlighting the company’s focus on expanding advanced solutions, specialty business, and digital investment.

As a distributor, Ingram Micro offers a variety of IT products, including Apple's iPhone and Cisco's networking equipment. The company also boasts a strong supplier network, featuring technology giants like Microsoft and Nvidia.

Platinum Equity acquired Ingram Micro in 2020 through a $7.2 billion transaction and remains the controlling shareholder post-IPO. Ingram Micro first went public in 1996 and remained listed on the NYSE until its acquisition for $6 billion by HNA Group in 2016.

The IPO was supported by a consortium of investment banks led by Morgan Stanley, Goldman Sachs, and J.P. Morgan.