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New Fortress Energy breaks issue; year's first IPO down -6.6% on debut

The year's first IPO, New Fortress Energy ( NFE ), went public at $14, below its proposed price, and finished its Thursday at $13.07 per share, a first-day return of -6.6%. The Fortress-backed owner of LNG liquefaction and regasification facilities raised $280 million at a market cap of $2.3 billion. Executives and directors bought 25% of the IPO.

Coming up, three biotechs and a micro-cap bank are on the IPO calendar for next week, along with two SPACs. Another Fortress-backed infrastructure play, passenger rail company Virgin Trains USA ( VTUS ), set terms on Thursday for a $510 million IPO expected to price on February 12.

The article New Fortress Energy breaks issue; year's first IPO down -6.6% on debut originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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