BUZZ-EquipmentShare poised to open higher in Nasdaq debut after $747 million IPO

Reuters01-23
BUZZ-EquipmentShare poised to open higher in Nasdaq debut after $747 million IPO

** Shares of construction tech firm EquipmentShare EQPT.O poised to open 6% above IPO price in Nasdaq debut

** Stock indicated to open at $26 apiece vs $24.50 offer price, giving EQPT a potential valuation of $6.16 billion

** EQPT sold 30.5 million shares at the midpoint of its marketed range of $23.50 and $25.50 apiece to raise $747.3 million

** Founded in 2015, EQPT offers construction equipment rental, ‍resales, servicing and jobsite technology through its platform called T3

** Goldman Sachs, Wells Fargo Securities, UBS Investment Bank, Citigroup and Guggenheim Securities were lead book-running managers for offering

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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