Deals
Oaktree-Backed Shoals Jumps 24% After $1.9 Billion IPO
- Solar-power parts maker joins clean-tech firms going public
- Oaktree Capital to retain control of Tennessee-based Shoals
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Solar-power components maker Shoals Technologies Group Inc. climbed 24% in its trading debut after its initial public offering topped expectations to raise $1.9 billion.
Shares of the Portland, Tennessee-based company opened at $31.30 Wednesday after selling for $25 each in the IPO. The shares, which rose as much as 40% during the day, closed at $30.98 in New York trading.