Digital infrastructure firm ITG has priced its US initial public offering at $16 per share, a level below the targeted range, raising $312.2 million.
The company sold 19.5 million shares in the debut, marking its entry into public markets with a valuation that reflects current market conditions.
The below-range pricing suggests investors are exercising caution in the digital infrastructure sector, despite the firm's backing by Oaktree.
The decision to price lower than expected indicates that demand was not strong enough to support the higher end of the guidance, a common occurrence in volatile equity windows.
This development comes as other infrastructure and technology firms navigate their own public debuts.
Recent IPOs, such as those by Robyg and Securitize, have shown varying levels of investor interest, with some facing reduced retail demand or pricing adjustments.