Energy
Geothermal Firm Fervo Soars 35% 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 jumped 35% in their trading debut after the geothermal energy developer raised $1.89 billion in an upsized US initial public offering.
Shares of the Houston-based firm closed at $36.54 each on Wednesday, versus an IPO price of $27. The listing priced above the marketed $25 to $26 range, which had been raised.