Energy
Geothermal Energy Firm Fervo Rises 33% After $1.89 Billion IPO
Fervo Energy signage during the company's IPO at the Nasdaq MarketSite in New York on May 13.
Photographer: Michael Nagle/BloombergFervo Energy Co. shares opened 33% above their IPO price after the geothermal energy developer raised $1.89 billion in an upsized US initial public offering.
Shares of the Houston-based firm opened at $36 each on Wednesday, versus an IPO price of $27. The listing priced above the marketed $25 to $26 range, which had been raised.