BUZZ-Gas engine maker Innio set for debut after upsized $2.4 billion IPO
INNIO N.V. INIO | 0.00 |
** Gas engine manufacturer Innio INIO.O headed for Nasdaq debut later on Thursday after upsized $2.43 billion IPO
** Munich, Germany-based Innio's principal shareholder AI Alpine - co-owned by funds managed by Advent International and Abu Dhabi Investment Authority - sold 90 million shares at top end of marketed range of $24 to $27 per share
** Innio makes power systems under Jenbacher and Waukesha brands for data centers, microgrids, grid stabilization, industrial energy, and gas compression
** Demand for Innio's gas engines has boomed as data center operators turn to alternative power systems to tackle grid constraints
** Goldman Sachs, J.P. Morgan and Morgan Stanley acted as joint lead book-running managers for offering
