Five Point-Backed WaterBridge Jumps 14% After $634 Million IPO
WaterBridge Infrastructure signage during the company's IPO on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergWaterBridge Infrastructure LLC shares rose 14% in their trading debut after the water infrastructure company raised $634 million in an initial public offering that priced at the top end the marketed range.
The stock closed at $22.83 apiece on Wednesday, compared with the IPO price of $20. The shares were marketed for $17 to $20 each in an upsized offering of 31.7 million shares.