Core & Main (CNM) IPO Opens 9% Higher

July 23, 2021 12:02 PM EDT
Get Alerts CNM Hot Sheet
Price: $27.39 --0%

Overall Analyst Rating:
    NEUTRAL (= Flat)

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Today's IPO for Core & Main (NYSE: CNM) opened for trading at $21.70 after pricing 34,883,721 shares of its Class A common stock at a public offering price of $20.00 per share.

Goldman Sachs & Co. LLC, Credit Suisse and J.P. Morgan are acting as lead book-running managers for the proposed offering. BofA Securities, Baird, Citigroup, RBC Capital Markets, Barclays and Deutsche Bank Securities are acting as additional book-running managers.

Based in St. Louis, Core & Main is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets nationwide. Core & Main’s specialty products and services are used in the maintenance, repair, replacement and construction of water and fire protection infrastructure.

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