Electrical Equipment Maker Forgent Seeks $1.6 Billion in IPO

Forgent Power Solutions Inc., a designer and manufacturer of electrical equipment used in data centers, is seeking to raise as much as $1.62 billion in its initial public offering.

The Dayton, Minnesota-based company is selling 56 million shares for $25 to $29 each, according to a filing Monday with the US Securities and Exchange Commission.