Deals
Nextracker Jumps Up to 29% After Upsized $638 Million US IPO
- Solar equipment maker’s first-day rise reflects market warm-up
- Hesai’s trading debut shows return to US by China-based firms
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Solar power equipment maker Nextracker Inc. rose 27% in its trading debut after raising $638 million in the biggest US initial public offering of the year.
The share sale, ending a four-month chill for US listings, comes as the pipeline of pending IPOs continues to fill. It also shows that companies falling under the heading of ESG —environmental, social and governance — can command investor attention.