Ingram Micro Corp. plans to start public trading on the New York Stock Exchange tomorrow, according to a spokesperson for the Irvine-based electronics and technology distribution giant.
The company is offering shares at a price between $20 and $23 apiece, and the initial public offering (IPO) is expected to generate around $428 million in proceeds, according to filings with the Securities and Exchange Commission.
The SEC filings place Ingram Micro’s likely valuation at up to $5.4 billion, which would make it one of the biggest IPO’s for an Orange County-based company in several years.
Ingram Micro is currently owned by Tom Gores’ Platinum Equity, which will retain a stake of about 90% in Ingram. Its ticker symbol will be INGM.
For further details, see the Oct. 28 print edition of the Business Journal.