Overview
- ITG has begun a U.S. IPO roadshow to offer 19,512,196 Class A shares and has applied to list on the Nasdaq Global Select Market under the ticker ITG.
- The company set an indicative price range of $19.00 to $22.00 per share, which would raise about $429.3 million of primary proceeds and imply a valuation up to roughly $2.67 billion.
- Net proceeds are earmarked to repay outstanding principal under ITG’s revolving credit facility and term loan facility, and any proceeds from underwriter option shares would be used to redeem equity held by owners controlled by Oaktree.
- ITG operates across 49 U.S. states, serving broadband, wireless, data‑center and utility customers, and it closed 2025 with a $2.9 billion backlog, about $1.3 billion of which is expected to be completed next year.
- Investors will weigh strong demand for high‑bandwidth and data‑center capacity against concentration risk—Comcast and Charter generated about 60% of revenue last year—and the offering remains subject to SEC clearance and market conditions.