By Colin Kellaher
ITG, a provider of services to the communications and digital infrastructure industries, on Monday said it plans to sell more than 19.5 million shares at between $19 and $22 each in its initial public offering.
At the $20.50 midpoint of that price range, the Fort Lauderdale, Fla., company said it expects net proceeds of about $361 million, or roughly $417.4 million if the underwriters exercise an option to buy an additional 2.17 million shares.
Investment manager Oaktree Capital Management, owned by Brookfield Asset Management, acquired ITG in late 2021 and will still hold more than 80% of the company's voting power after the IPO.
ITG said it has applied to list its shares on the Nasdaq Global Select Market under the symbol ITG.
Write to Colin Kellaher at colin.kellaher@wsj.com