ITG Inc set the terms of its initial public offering on Monday, aiming to raise $400 million in a debut that would put the engineering and infrastructure services company on Nasdaq under the symbol ITG. The offering calls for 19.5 million shares priced at $19 to $22 each.
At the midpoint of that range, ITG would be valued at $2.5 billion. That is the number investors are weighing now, because it sets the mark for a company that booked $1.3 billion in revenue over the 12 months ended March 31, 2026 and wants to tap the public market while demand for infrastructure work remains tied to broadband, wireless and utility buildouts across the United States.
Founded in 2014, ITG works through two segments: Engineering & Maintenance, which supports ongoing network operations and planned upkeep, and Infrastructure Deployment, which covers the planning, design and construction of new and expanded networks. Its customers include broadband service providers, fiber providers, wireless carriers, data center operators and public and private utilities, most of them under long-term master service agreements.
The pricing still leaves room on both sides of the trade. A midpoint valuation of $2.5 billion is below the $2.7 billion headline context tied to the deal, which means the final outcome will depend on whether investors lean toward the low end, the middle or the top of the range. That decision will shape how much money ITG actually takes in and how the market reads the company’s first day as a public stock.
The joint bookrunners are Morgan Stanley, Citi, UBS Investment Bank, Stifel, BofA Securities, Baird, Santander, KeyBanc Capital Markets and Truist Securities. ITG is expected to price its IPO the week of June 29, 2026, a stretch that will show whether the market is ready to absorb a large infrastructure-services offering at the company’s stated range.
