Digital infrastructure company ITG's U.S. IPO was priced below the range, raising $3.122 billion.

ITG, supported by Oaktree Capital, announced on Tuesday that its initial public offering in the United States was priced at $16 per share, below the target range, raising a total of $312.2 million. The digital infrastructure company sold a total of 19.5 million shares, with an initial price range of $19 to $22 per share. ITG provides end-to-end digital infrastructure services across the United States, supporting the planning, construction, operation, and maintenance of broadband, wireless, data centers, utilities, and civil infrastructure. With high-speed broadband now considered essential public infrastructure and artificial intelligence companies investing billions in building the data centers they need for their technology, demand for the company's services is growing. In 2021, investment firm Oaktree Capital Management partnered with ITG management to acquire the company. Morgan Stanley, Citigroup, UBS Investment Bank, and Stifel are the joint bookrunners for this offering. The company will begin trading on the Nasdaq Stock Exchange on Wednesday under the ticker symbol "ITG".