INNIO Group Shareholders Raise $2.43 Billion in Upsized Nasdaq IPO Priced at Top of Range

INNIO Group’s biggest shareholders raised $2.43 billion in an upsized initial public offering that priced at the top of its range, according to Bloomberg. The gas-engine and power-equipment maker’s listing is the latest sign that investors are still willing to back large industrial companies tied to energy infrastructure and distributed power generation.

The offering was larger than initially planned. INNIO had launched its roadshow in late May with 75 million shares expected to be sold at a price range of each, according to the company’s IPO announcement. Market reports ahead of pricing said the deal had been marketed to raise about at the top end, and Bloomberg later reported that the final proceeds for shareholders came in at after the deal was upsized.