WASHINGTON (dpa-AFX) - ITG, Inc., a communications and digital infrastructure services company, on Monday announced the launch of its initial public offering of 19.5 million shares of Class A stock.
The company expects to price the offering between $19 and $22 per share.
The company has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol ITG.
The company intends to grant the underwriters a 30-day option to purchase up to an additional 2.17 million shares.
The option also includes the purchase of up to 758,194 shares from a selling stockholder.
The company expects to use the net proceeds from the offering to repay borrowings under its revolving credit facility and term loan facility.
The company said that any remaining proceeds will be used for general corporate purposes and to support business growth.
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