Fervo Energy Opens 33% Higher After Upsized $1.89 Billion IPO
Fervo Energy shares opened 33% above their initial public offering price after the geothermal energy developer raised $1.89 billion in an upsized U.S. offering, giving the company a strong trading debut. The shares opened at $36 after being priced at $27, above the marketed $25-to-$26 range.
The order book was oversubscribed 15 times, underscoring investor appetite for energy companies as the U.S. faces record amounts of new power demand. Houston-based Fervo develops enhanced geothermal energy and expects its first commercial station to deliver power by the end of 2026.
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@staunovoGeothermal Energy Developer Fervo Raises $1.89 Billion in US IPO
@oilheadlinenewsGeothermal Energy Developer Fervo Raises $1.89 Billion in US IPO
@businessFervo Energy shares opened 33% above their IPO price after the geothermal energy developer raised $1.89 billion in an upsized US initial public offering.
@wsjmarketsShares of geothermal developer Fervo Energy soared in their debut, a sign of investor appetite for energy companies as the U.S. faces record amounts of new power demand
@iponewsroom_JUST IN: GEOTHERMAL ENERGY COMPANY FERVO $FRVO JUST POPPED 37% ON ITS IPO DEBUT 🇺🇸 The order book was oversubscribed 15 times. The full picture, per Bloomberg: The deal: - IPO price: $27 (above the marketed $25-26 range, which had alread