Forgent Power Shares Advance 7.4% After $1.5 Billion IPO
Forgent Power Solutions Inc. signage during the company's IPO on the floor of the New York Stock Exchange on Feb. 5.
Photographer: Michael Nagle/BloombergForgent Power Solutions Inc. shares rose 7.4% after the company and some of its backers raised $1.5 billion in a US initial public offering.
Shares of the electrical equipment maker closed at $29 in New York, compared to the IPO price of $27 each. The company and affiliates of Neos Partners sold 56 million shares after marketing them for $25 to $29 each.