Ingram Micro shares closed around 12% higher on Thursday after its return to public trading, valuing the IT distribution giant at $5.82 billion.
Platinum Equity, which acquired Ingram in 2021, retains about 90% ownership following the IPO.
Trading on the NYSE under the ticker INGM, the company raised $409.2 million from 18.6 million shares priced at $22 each, with proceeds earmarked for repaying part of its term loan, which has $1.16 billion outstanding, due in 2031.
Founded in 1979 as Micro D, Ingram Micro previously went public in 1996 and remained public until 2021, when Platinum Equity bought it.
The new IPO is seen as a strategic move to enhance the company's offerings and partnerships, particularly within the managed service provider (MSP) space.