ITG Communications Debuts on Nasdaq Following $16 IPO Pricing
Fox Business aired a live interview with ITG CEO Andy (Parrott) on the company's Nasdaq debut day. The segment covered the IPO pricing at $16, opening pop to $19.26, subsequent trading near $16.88 for a roughly $2 billion valuation, and the company's role providing turnkey fiber, engineering, and deployment services to broadband and data center operators. It highlighted the FUSE 360 platform, 12,000 field workers, European engineering staff, and plans to use proceeds for debt reduction and organic growth. CEO discussed quadrupling revenue over four years, reducing customer concentration with Comcast and Charter from 80% to under 50%, and scaling data center work. The interview preceded ITG ringing the Nasdaq closing bell.
Source: Fox Business