BUZZ-Gas engine maker Innio poised to open higher in debut after upsized $2.4 billion IPO

INNIO N.V.

INNIO N.V.

INIO

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Updates

** Gas engine manufacturer Innio INIO.O on track to open above offer price in Nasdaq debut after upsized $2.43 billion IPO

** Stock recently indicated to open at $30 vs IPO price of $27

** 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 the brands Jenbacher and Waukesha for industries, commercial enterprises, municipal authorities and data centers

** 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


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