Overview of X-Energy's IPO#
X-Energy Inc., a developer of small modular reactors backed by Amazon.com Inc., recently launched its initial public offering (IPO) in the United States. The offering was met with overwhelming interest, attracting demand that exceeded the available shares by more than 15 times.
Details of the Offering#
The company offered 44.3 million shares at a price of $23 each, which is higher than the initially expected range of $16 to $19. This pricing allowed X-Energy to raise a total of $1.02 billion through the IPO.
Investor Interest#
The strong demand for X-Energy's shares came from various types of investors, including long-term investors and those specifically focused on the energy sector. Notably, one-third of institutional investors who placed orders did not receive any shares, highlighting the competitive nature of the offering.
Trading Information#
Once the shares are available, they are expected to be traded on the Nasdaq Stock Market under the ticker symbol XE. Several major banks, including JPMorgan Chase & Co., Morgan Stanley, Jefferies Financial Group Inc., and Moelis & Co., played key roles in facilitating the offering.